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Old 07-25-2013, 04:10 PM
 
Location: Riverdale, New York
1,283 posts, read 1,896,420 times
Reputation: 300

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Quote:
Originally Posted by Kefir King View Post
A friend of mine is a psychologist. She is paid by cash, by check, and by insurance.
Guess which two she claims as income.

Pysses me off sometimes because I have never underpaid my taxes by a single nickel.
HA! That's amazing... Talk about highway robbery.
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Old 07-26-2013, 07:33 AM
 
Location: Plandome, NY
7,048 posts, read 7,638,387 times
Reputation: 3889
Quote:
Originally Posted by deeken View Post
So if that is the case why don't more restaurants accepts a cash only policy? I mean, think of the amount of money you could potential save and hide from the IRS.
Depends on the business & the way owners want to run them. CC can draw new business and/or is a convenience to their customers. If your business is running at...say 95% or even 100% capacity that only accepts cash...why change? Keep in mind that CC pushes up overall prices.
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Old 07-26-2013, 07:42 AM
 
Location: Plandome, NY
7,048 posts, read 7,638,387 times
Reputation: 3889
Quote:
Originally Posted by Kefir King View Post
A friend of mine is a psychologist. She is paid by cash, by check, and by insurance.
Its absolutely insane in this country where there is not a single price service from the above. Even different insurance pays different amount for the same service done

I will give a personal example. My uncle is dentist.... charges about $65 for a routine teeth cleaning for cash clients. My sibling works for nyc govt which is a crap insurance gets a tad more than the cash. I have a great dental insurance which pays out close to $175 for the same service. Even for major hospitals, cash prices are night & day differences than insurance.

Just as restaurant, landscaper, construction....... medical professional just wants to be paid upfront payment. I am sure hiding from the G man has some consideration but its not usually the top concern
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