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re: businesses & tax evasion - edited title
Posted on 8/16/17 at 2:34 pm to LadyTigress
Posted on 8/16/17 at 2:34 pm to LadyTigress
quote:
When they operate as cash-only.
It's their culture to prefer cash transactions and they don't want to pay credit card fees.
2
Posted on 8/16/17 at 2:35 pm to Tigeralum2008
quote:
I view those businesses in a much more favorable light than I do driving through EBR watching unemployed people cross a road wearing a wife beater, walmart shorts, and fuzzy slippers on a mid afternoon day.
Well yeah, any working person will be above the dregs of society
Posted on 8/16/17 at 2:36 pm to Cdawg
quote:
It's their culture to prefer cash transactions and they don't want to pay credit card fees, or taxes.
Posted on 8/16/17 at 2:36 pm to SwaggerCopter
They are all money laundering fronts. Fact.
Posted on 8/16/17 at 2:37 pm to tiger7166
quote:
They pay every thing in cash. They drastically under pay sales tax (10% gain) do not pay WC, Unemployment, SS, or other payroll taxes. Change ownership and move when questioned
This.
Posted on 8/16/17 at 2:38 pm to LadyTigress
quote:
these business owners operate as cash-only bc they want to avoid our tax structure.
What?????
What a huge assumption to make. Do you realize that Waffle House only recently started operating without requiring cash only?
Hint. They're not asian. And it had nothing to do with avoiding taxes.
Now that I think about it, you truly are racist. First time that allegation has been thrown out here and been legit true.
Posted on 8/16/17 at 2:38 pm to LadyTigress
quote:
When they operate as cash-only.
Peter Luger's steakhouse says hi!
Posted on 8/16/17 at 2:40 pm to LadyTigress
(no message)
This post was edited on 12/21/21 at 11:17 am
Posted on 8/16/17 at 2:41 pm to LadyTigress
quote:
How, in 2017, are all these tailors, nail salons,etc able to get away with this year after year?
Because taxes don't make for happy endings.
Posted on 8/16/17 at 2:42 pm to Festus
quote:
you truly are racist
lolol
Posted on 8/16/17 at 2:42 pm to LadyTigress
quote:You're more than likely correct, but some places don't accepts cards because they don't want to pay 3% to processor.
When they operate as cash-only.
Posted on 8/16/17 at 2:42 pm to lsupride87
quote:
Why do you assume that this means they don't pay their taxes?
I am a CPA. She assumes correctly
Cash only or largely cash business don't report their incomes accurately. I'm not sure how this is even debatable.
Posted on 8/16/17 at 2:44 pm to The Mick
quote:
You're more than likely correct, but some places don't accepts cards because they don't want to pay 3% to processor.
Then have a spending minimum - like $5-10...I see that at places and respect that more bc that would suck to pay a fee on a tiny transaction...but when the only option is to pay with cash? Um, that's a red flag.
This post was edited on 8/16/17 at 2:46 pm
Posted on 8/16/17 at 2:44 pm to LadyTigress
Why do you hate the Asian-American dream?
Posted on 8/16/17 at 2:45 pm to slackster
quote:
Cash only or largely cash business don't report their incomes accurately. I'm not sure how this is even debatable.
It's not debatable. It's just funny because 99.99% of all businesses, cash only or not, don't report their incomes accurately when you factor in their turning in false or inflated expenses.
Posted on 8/16/17 at 2:45 pm to Rouge
quote:
Why do you hate the Asian-American dream?
Bc they are getting more out of it than the American-American dream
Posted on 8/16/17 at 2:45 pm to Cdawg
quote:
It's their culture to prefer cash transactions and they don't want to pay credit card fees.
Maybe so, but a nice silver lining is how easy it is to underreport your income in a cash business.
Posted on 8/16/17 at 2:47 pm to LadyTigress
quote:this is why i dont feel bad when i buy food stamps for pennies on the dollar.
Bc they are getting more out of it than the American-American dream
holler at me
This post was edited on 8/16/17 at 2:48 pm
Posted on 8/16/17 at 2:48 pm to Festus
quote:
It's not debatable. It's just funny because 99.99% of all businesses, cash only or not, don't report their incomes accurately when you factor in their turning in false or inflated expenses.
Fair enough, but underreporting cash income is muchhhhhhhh more difficult to prove than inflated expenses. The owners and employees of mostly cash businesses all get in on the action too. FICA taxes are severely underpaid, if at all.
Posted on 8/16/17 at 2:48 pm to LadyTigress
quote:
How, in 2017, are all these tailors, nail salons,etc able to get away with this year after year? I am all for the "American Dream" and capitalism, but all business owners should have to follow the rules like everyone else in America, no matter where they come from.
Are only Asian businesses allowed to be cash-only? What rules are they being allowed to break? Are you assuming that all cash-only businesses are engaged in tax evasion? Or just mainly the Asian-owned ones?
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