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- Sep 10, 2009
yeeessss man. barbers are be DOIN it broIt's obvious some of y'all have never filled out a tax form in your lives...niquefreak is dropping knowledge. With a cash transaction and no receipt, you are supposed to be an upstanding, honest, american citizen and report that income so it can be taxed. However if you don't, there is NO WAY for the govt to track that money and how much tax you owe on it. As nique said as long as you ain't taking out a mortgage...with that money (DUMB MOVE!) you are good.
Y'all never wondered how the hood Barbershop and hair Salon owners are rollin a different ride every week, or pushin' Benz's and BMW's? Same thing...cash transaction...not trackable...the smart ones report about 1/2 to 3/4 of what the actually make to the IRS to keep Uncle Sam off their back.