Getting Paid Cash

Discussion in 'Lawn Mowing' started by BigRedTruck, Mar 9, 2007.

  1. BigRedTruck

    BigRedTruck LawnSite Member
    Posts: 14

    Posted this in another section, but wanted to get an overall feel for this. You get paid cash...
    Do you report it or does it go in the pocket and never to be heard from again.
    I personally pocket it. What Gov. doesn't know can't hurt me. I feel we earn it and cash is cash. But i know there are those out there that report it. I want to hear both sides of this one. I know car washes, mechanics, etc. will pocket cash. We've all paid cash to get something a little cheaper. So...
    who does it. Who doesn't and why not.

    Be honest.
     
  2. Sydenstricker Landscaping

    Sydenstricker Landscaping LawnSite Bronze Member
    Posts: 1,281

    As I said in the other post, I dont see cash other than snowplowing. I dont turn that in due to I get it from people flagging me down to plow their drive. Then I just spend it on gas anyway. Kinda hard to report something you spend immediatly. But during the season, I would report anything of 100 bucks or more. You never know who would call and turn you in over the stupidest crap. Just want to cover my ass. Cause Uncle Sam and his tax calculator are really, really bad. I have heard this from guys who have dealt with it. I just like to be on the safe side
     
  3. Woody82986

    Woody82986 LawnSite Silver Member
    from DFW, TX
    Posts: 2,128

    I will not report cash most of the time. Sometimes I report it because I get in such a rhythm entering payments into files that I never skip a beat recording the cash payment. The clients that pay me cash don't really get a discount, although I haven't raised this one guy's price in 4 years. My ex fiance's parents ended up coming in way under budget when they built their house because her dad go a bunch of the work done for cash payments.
     
  4. BigRedTruck

    BigRedTruck LawnSite Member
    Posts: 14

    I hear what ur saying. I just don't know how it can be proven that you were paid cash for something. I don't know. All I can say is, I'm not. We'll see. I guess if I start to feel some "pressure" then I might change my mind. Or maybe start to report some of it. But damn. I dont know.
     
  5. Sydenstricker Landscaping

    Sydenstricker Landscaping LawnSite Bronze Member
    Posts: 1,281

    It is always gonna be a toss-up. You just gotta use your better judgement when it comes to the cold hard cash.
     
  6. OMG

    OMG LawnSite Senior Member
    Posts: 275

    Never get cash and most legit businesses don't.....


    I send monthly invoices and receive checks instead of cash.
     
  7. jbell113

    jbell113 LawnSite Senior Member
    Posts: 654

    I get stopped all the time by people just wanting a quick mow and blow ....most pay cash. Made over $5,000 last year in cash alone. Reported about $75 of it.
     
  8. dhardin53

    dhardin53 LawnSite Senior Member
    Posts: 711

    Most of my work is commercial so i get paid in check and it has to be reported and I pay taxes on it all.

    I know this is a topic of much indiferences. But If your called a professinal and going to do this type of work for a life time.One need to reprot as much income as posable. I know I hate to pay taxes as the next guy, but unless your puting that cash money in a 401k or some kind of investment. Your going to retire some day and wish you had payed in now. Its caled Social Secutity, and everyone say it going brock, but it is your only hope for some kind of retirment income.

    To get the standard Social Security check at age 65 you need to pay in 40 quarters. A quarter is three months and if you have worked for minimum wages for years it takes a long time for you to pay in just one quarter. There is a minimun amount reqired to qualify you as haveing a payed in quarter. I dont know what the amount is but working for a boss and being selfemployed you are responable to pay it in now so you can get a SS check that will help you through the golden years.

    I know this falls on some deaf ears, for you young guys its the farthest thing in you mind now. But You need to think long term here. Get injured and cant work, If you have payed in to Social Securtiy you will get benifts as well. Not great mind you but something is better than nothing.
    A selfemployed person pays in 14% of his ajusted gross income to SS. IF your a one man operator and you have a lot of "cash cows" (acounts that pay in cash or check that you keep) and dont show it as income at the end of the year, your only prolonging a problem.

    Just my opinion, and I guess because Im a little older than some here it is a real issue. And I feel some of you all could benifit from. And if you do address this issue now you can thank the LwanSite, and guys like me later.
     
  9. Metro Lawn

    Metro Lawn LawnSite Silver Member
    Posts: 2,112

    I hope there are no IRS agents that cut grass on the side...rofl
     
  10. Roger

    Roger LawnSite Fanatic
    Posts: 5,927

Share This Page