3 ms·

Tax evasion in what sense? Surely your earnings are your earnings. If you are a business you have to drop that cash into your bank account at the end of the wee

Tax evasion in what sense? Surely your earnings are your earnings. If you are a business you have to drop that cash into your bank account at the end of the week or else really it's just petti cash and not significant.Then you have to declare it at the end of the year -- and it could be subject to an audit at anytime. However buying things at a sex shop for example or how much I drink at the local bar on Fridays might be nothing I want my bank to know about.

yungporko 3y ago
i think the comment you're replying to is wrong, but taking payment in cash and spending it as cash lets you buy a hell of a lot of stuff without being tracked. i've known several drug dealers and handymen who have had entire wardrobes, all the tech they own, bikes, even cars, all paid for in cash that never went anywhere near their bank accounts. pretty much the only important thing you can't easily buy with cash is a home.
- swagempire 3y ago
  You could be right about the comment I'm replying too -- when I click on "parent: it brings up a flagged comment. But either way -- you also might be responding to the wrong comment. My comment was about tax evasion, not tracking the purchasing habits of consumers -- which I think is bad. I'll restate what I said: at the end of the day you'll have to deposit your earnings cash or not in a bank account and declare it as part of your business revenue to the tax man. If you want to keep piles of cash under your mattress somewhere I guess you can, or if you want to purchase things in cash continously -- this might work for individuals like a single man operation-- but to run a legitimate business you will have to hit bank accounts with the money you earn one way or another and this will be eventually subject to an audit should it look suspicious enough.

3 ms·

Tax evasion in what sense? Surely your earnings are your earnings. If you are a business you have to drop that cash into your bank account at the end of the wee

by swagempire 3y ago

yungporko 3y ago
i think the comment you're replying to is wrong, but taking payment in cash and spending it as cash lets you buy a hell of a lot of stuff without being tracked. i've known several drug dealers and handymen who have had entire wardrobes, all the tech they own, bikes, even cars, all paid for in cash that never went anywhere near their bank accounts. pretty much the only important thing you can't easily buy with cash is a home.
- swagempire 3y ago
  You could be right about the comment I'm replying too -- when I click on "parent: it brings up a flagged comment. But either way -- you also might be responding to the wrong comment. My comment was about tax evasion, not tracking the purchasing habits of consumers -- which I think is bad. I'll restate what I said: at the end of the day you'll have to deposit your earnings cash or not in a bank account and declare it as part of your business revenue to the tax man. If you want to keep piles of cash under your mattress somewhere I guess you can, or if you want to purchase things in cash continously -- this might work for individuals like a single man operation-- but to run a legitimate business you will have to hit bank accounts with the money you earn one way or another and this will be eventually subject to an audit should it look suspicious enough.