Hiding money

iVillage Member
Registered: 08-22-2009
Hiding money
53
Fri, 12-31-2010 - 12:09pm

Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
Fri, 12-31-2010 - 5:30pm

Cash businesses are just any kind of place that operates in cash, like groceries, delis, car washes, restaurants etc. With more and more people using debit cards or using credit cards as cash, it is probably decreasing some, but not going away entirely. You also get some tradesmen who will try to get at least some jobs in cash.

It is common for cash businesses to "skim," i.e. make some of the cash disappear from the IRS. Often this cash is used to pay employees off the books. Paying overtime in cash is typically a win-win, since neither side has to pay taxes, and the business saves the overtime surcharge as well.

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Fri, 12-31-2010 - 5:31pm
Housecleaners, waiting tables, taxi drivers, ... just a few of teh potentially cash-based wages I can think of.

FTR (and not directed at you trying), cash payments/wages aren't illegal. Not reporting said cash payments is illegal.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

iVillage Member
Registered: 08-22-2009
Fri, 12-31-2010 - 5:33pm

iVillage Member
Registered: 10-01-2010
Fri, 12-31-2010 - 6:59pm

These places of business pay "cash only" "off the books"? NEVER heard of that.

iVillage Member
Registered: 06-04-2003
Wed, 01-05-2011 - 12:53pm

You have really never heard of businesses or workers that want cash and don't declare it?

Community Leader
Registered: 02-06-2006
Wed, 01-05-2011 - 3:03pm
My dh and I sort of intentionally "hide" some our spending from each other.

We have separate checking accounts, into which our paychecks are deposited. We have a joint checking and savings which is linked to each of those accounts. We've determined how much (which is most) of our checks will go into the joint accounts for various purposes (bill paying, short term saving, long term saving, etc.) So we each manually transfer that amount 2x a month into the joint checking (at which point he takes over and does all the bill paying and allotting of the other money because he's more organized and has a better system than I do), and the rest of the money in our separate accounts stays in there for our discretionary spending.

I like experiences, my husband likes stuff. How we choose to spend discretionary money vaguely annoys each of us. I think he's cheap about "doing" fun stuff, and think he has too many toys. He thinks I'm wasteful with money when it comes to going out, seeing a show, etc. and he doesn't understand why I'm content with my same old, sometimes outdated stuff.

So while, he obviously knows if I've gotten concert tickets, or I obviously know if he got some new tricked out headlights for his truck, neither one of us has to see a line item showing the $$ spent for either. It makes us both happy to have it that way and it works for us. And it makes it easier for gift buying because we buy each other gifts out of our discretionary money.

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iVillage Member
Registered: 08-22-2009
Wed, 01-05-2011 - 6:56pm

Community Leader
Registered: 02-06-2006
Thu, 01-06-2011 - 10:52am
Actually, that's pretty true with us as well. I'm more likely to drop $20-50 on getting lunch, dinner or a drink with friends a couple times a month, and he's more likely to spend a larger amount on a new "thing" but much less often.

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iVillage Member
Registered: 01-15-2006
Thu, 01-06-2011 - 11:19am

i agree, deceptive practices are

 

iVillage Member
Registered: 01-15-2006
Thu, 01-06-2011 - 11:22am
i spend AT LEAST $100.00/wk for groceries, LOL.