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do u came all your income

Discussion in 'Business Operations' started by jeff_0, Apr 29, 2003.

  1. KirbyKLC

    KirbyKLC LawnSite Member
    Messages: 31

    Every nickel. Not worth the consequences when you get caught. Furthermore -- read again what Green Pastures said.
  2. hustlers

    hustlers LawnSite Senior Member
    from MN
    Messages: 257

    98%------There are a couple of cash jobs for close friends
    or relatives, I claimed that though on last years taxes as
    cash income-----------

    Cash receipts -I forget to keep track of cash receipts dumps fees
    coffee, snacks
  3. bruces

    bruces LawnSite Senior Member
    Messages: 648

    No offense, but to even ask this question on a public forum is idiotic!!

    And even more idiotic would be for someone to answer, "No, I just claim 2/3 of my income."

    What if there is an IRS agent who is a member who is a part time LCO?

    He would love to talk to all of the people who advocate not claiming all their income.

    Don't admit to breaking the law in public!!!
  4. jeff_0

    jeff_0 LawnSite Senior Member
    from md
    Messages: 401

    yeah, good point
  5. Gene $immons

    Gene $immons LawnSite Bronze Member
    Messages: 1,028

    It is all such a joke that the tax rates are so high. I work my tail off for every dime I make. If a customer decides to come out and pay in cash, which occasionally happens, I put the money in my wallet and forget about it. Doesn't the IRS have bigger fish to fry? Like Enron and Tyco?
  6. Haley Lawn Care

    Haley Lawn Care LawnSite Member
    from NC
    Messages: 119

    Last week I was mowing in a neighborhood when a lady drove by and said mow my lawn, I just had surgery and cant do it this week. I said okay and gave her a price. She paid in cash even more than I quoted her. I will probably not do her yard again so I did not report the money. I dont really like jobs like that I wish they would become regular customers. If my regular customer pays in cash or makes the check to me instead of the company I still make an invoice and stamp the check and make the deposit. I usually have less than $60.00 per year in cash payments.

    David :)
  7. cos

    cos LawnSite Addict
    Messages: 1,253

    You don't know how much is coming in? Even if you have a paper system, you should know what you are making and even what you are paying out in expenses. What happens when tax season comes? Do you just fudge it? That's real bad, if you do.
  8. CO.d 502nd

    CO.d 502nd Banned
    Messages: 288

    First i get very little cash all mine pay by check and i deposity into a biz account.
    I claim every penny i make right down to the last little penny.
    With the biz and my pension i get hit hard by taxes most years .
    I try to do what is right and what is right is reporting all procedes i take in.
  9. GraZZmaZter

    GraZZmaZter LawnSite Senior Member
    Messages: 740

    I report all income.

    Neighbors got in bad with the IRS for not paying taxes for some time. WOW the stories they tell me would scare any one of you into claiming that quarter you found on your clients sidewalk last week!

    IRS is no joke, and they are ORGANIZED!
  10. KerryB

    KerryB LawnSite Senior Member
    Messages: 661

    All my accounts pay by ck. We had a LCO get in bad with the IRS and I dont want that to happen to me. I deposit all my income into a business account.

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