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brip blap

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cash rules

Started by bripblap · 3 months ago

(a possibly apocryphal exchange between British Prime Minister Churchill and an unnamed socialite woman, which demonstrates that anything (or anyone) can be bought for the right amount of cash):
Churchill: Madam, would you sleep with me for five million pounds?
Socialite: My ... Continue reading »

10 comments

  • Bellen

    10 months ago

    Paying cash to avoid taxes - no. I have paid cash to a lawn service, but insisted on a reciept showing I paid in full with cash.
    Having had a 'flea market store' I constantly had to deal with the sales tax issue - even tho I had a tax certificate and had it displayed next to my cash register - "if I pay cash you won't charge me sales tax, right?" After a consultation with my CPA we decided on a tax included price. Meant keeping lots of records, but I was legally doing business, paid my sales tax quarterly and my customers thought they were getting a 'real deal'. Much better in my mind than the thought of being arrested, going to jail, paying a whole lot in back taxes, penalties, etc. It does go further than just the local taxes - all the way up to the IRS. Truthfully, this day in age of sagging home and retail sales, my town, county and state need all the help they can get from sales tax.
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  • Mrs. Micah

    10 months ago

    Well I tip servers with cash sometimes, but I also know they get some kind of earnings assumption from the government which tries to take tips into account. At least one server I lived with did...she was confused.
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  • guinness416

    10 months ago

    Thanks for addressing the "consumption tax" nonsense, and yes, among the myriad other arguments against it it's comical to imagine the field day that man-with-a-van or one-man-and-a-storefront businesses of one sort or another would have with such a system. I don't so much mind the politicians bringing it up - we all know how "reality based" their platforms are - but the amount of otherwise sensible ordinary joes/janes advocating for it makes no sense to me at all.
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  • FourPillars

    10 months ago

    Guilty as charged!

    I've done it in the past and even though I know it's wrong (like speeding) I'll probably do it again. I feel guilty that I don't feel guilty about it. :)

    House renovation (or remodelin' as you USA types are wont to say) is another prime area for cash jobs.

    Mike
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  • plonkee

    10 months ago

    I've been brought up to ask tradesmen if they have a *cash discount*. I'd be lying if I said that I thought that was truly legit.
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  • SavingDiva

    10 months ago

    I've never paid cash to avoid sales tax...However, I have purchased items online to avoid taxes (iPods, etc).

    Like Mrs. Micah, I occassionally leave cash tips for waitors...but I never really thought about not reporting the income.

    I've never really thought about cash transactions as a way to avoid taxes. I don't know what I would do if I was asked if I would like a cash discount. It would definitely be tempting!
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  • fathersez

    10 months ago

    You should spend some time in some of the developing countries, say in Africa or India.

    The cash economoy is the main one, it feels to me.

    I am also guilty of this. It is just not the taxed to be paid by the service provider. It is the busload of forms and stuff they have to fill that turns them off.

    So they charge less, remain under the IRS radar and try to live happily ever after.
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  • deepali

    10 months ago

    I've paid in cash (and been paid in cash) for services rendered and never really thought about the tax issue. The sums were generally pretty paltry.

    Overseas, though, I've definitely done the "cash discount", both in US and local currency (bigger discount for local currency).
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  • dong

    10 months ago

    I often leave tips for servers in cash especially at ethnic restaraunts where I worry that the owners might shaft some of the workers. While ideally I like to think that servers report their income, I don't really worry about it if they don't. Call me relativist but I'm ok with someone making 20k year cutting corners on his or her taxes, but not so ok with it when someone making 250k does it.
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  • Jewellery Talk

    3 days ago

    half the economy would go underground overnight. If I was buying a $5000 ring and had to pay $1000 in taxes on it I would definitely be motivated to at least consider my “black market” options. Any politician who proposes this simply doesn’t understand how the cash economy - which exists and is thriving - would explode in the US and create a legitimate “black market.”
    reply

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