survey- If there was a fool proof way to cheat on your income taxes, would you do it?
Also what percentage of people that deal in mainly cash transactions do you think report all their income?
Also what percentage of people that deal in mainly cash transactions do you think report all their income?
cbspokane
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Are you saying that you think pimps, ho's, and drug dealers report all their "earnings"? There is a huge underground economy. Just think of all the illegal immigrants who work for cash and live strictly on a cash basis.
This is one of the best arguments for a national sales tax, that is that at least everyone would have to pay it. Half of all Americans pay no income tax. For many, this is because they are in a lower income bracket, for others, it is because the have managed to avoid having their income show up on tax roles. There are lots of ways to avoid taxes, but none that are legal.
Anonymous
Everybody cheats.
-an IRS audit will set you straight. Even when you think you are doing the right thing, they can dig up something you never suspected or knew you had to claim.
Yeah, I would. Right now they log every dollar I make and spend.
The great thing about the IRS is that they are the ONLY organization that can find you guilty, convict you and make you prove your innocence later.
It's true. They can literally lock your bank account up, seize your home and cars and put you in the street. Then in a month or so you can beg them to return some of it.
It was worse in the 80's. Clinton pushed a little legislation making them just a touch nicer. Not much but some.
Matt M
Absolutely
Anonymous
Of course.
If you want a mechanic to cut you a deal, you mention the word cash.
I pity the yuppies who make plastic transactions for everything.
Anonymous
I think you and Guido should both bring your stock option portfolios for your 401 KY investments, then show him how the 'early in, early out' option works.