Cash only businesses

[Anonymous]

Anonymous wrote:They can't even say it's because credit costs so much. Cash actually has a lot of expenses- cash registers, Brinks trucks, etc.

It's tax fraud. The only places that should still take cash are coin operated machine places like laundromats.

Most laundromats now take credit cards.

[Anonymous]

Is tax fraud the reason my nail salon only allows tips in cash? They have an ATM in the shop in case you forget to bring cash.

[Anonymous]

Anonymous wrote:Is tax fraud the reason my nail salon only allows tips in cash? They have an ATM in the shop in case you forget to bring cash.

Yes. The nail technician earns the tip tax free because he or she doesn’t report it.

[Anonymous]

It’s either tax fraud or money laundering or both.

[Anonymous]

Why assume it's tax fraud just because it's a cash-only business?

There are plenty of ways to doctor the books and manipulate non-cash transactions, too.

[Anonymous]

I can think of a restaurant in Kensington that is cash only. And another one in St. Michaels.

[Anonymous]

Anonymous wrote:Why assume it's tax fraud just because it's a cash-only business?

There are plenty of ways to doctor the books and manipulate non-cash transactions, too.

But it's much easier to do with a cash-only business. There's no credit card records to investigate.

[Anonymous]

Anonymous wrote:Is tax fraud the reason my nail salon only allows tips in cash? They have an ATM in the shop in case you forget to bring cash.

Probably. they probably own the ATM inside too so they make all those fees when you get cash since. So get a discount on your nails for paying cash but get an $ 8 service fee on your atm use.

[Anonymous]

Anonymous wrote:

Anonymous wrote:They don’t make enough to afford the credit card mark ups - which are huge for small businesses.

This is it for us as a small farm that does farmers markets. We try to make it as easy as possible for people to pay at our tents, we have venmo, paypal, zelle, and a card reader, of course cash is also accepted. When someone pays with a card we pass the "swipe fee" on to the consumer - our reader company charges 3% and our bank charges another fee to accept the transaction into our account. Most people don't have a problem with the fee tacked on, but a few will then pay in cash. We report all income on our Schedule F, so, at least for us, it's not about tax evasion, but I'm sure others are not as honest as we are.

What you’re describing is in no way “cash only.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is tax fraud the reason my nail salon only allows tips in cash? They have an ATM in the shop in case you forget to bring cash.

Probably. they probably own the ATM inside too so they make all those fees when you get cash since. So get a discount on your nails for paying cash but get an $ 8 service fee on your atm use.

It’s also because most of the nail salons are at best non compliant with labor laws, and this allows the managers to collect the tips with no record of what they were.

[Anonymous]

Anonymous wrote:

Anonymous wrote:They don’t make enough to afford the credit card mark ups - which are huge for small businesses.

This is it for us as a small farm that does farmers markets. We try to make it as easy as possible for people to pay at our tents, we have venmo, paypal, zelle, and a card reader, of course cash is also accepted. When someone pays with a card we pass the "swipe fee" on to the consumer - our reader company charges 3% and our bank charges another fee to accept the transaction into our account. Most people don't have a problem with the fee tacked on, but a few will then pay in cash. We report all income on our Schedule F, so, at least for us, it's not about tax evasion, but I'm sure others are not as honest as we are.

The fees aren’t a good reason to be “cash only.” That’s why what you’re describing isn’t “cash only.”

[Anonymous]

Anonymous wrote:Is tax fraud the reason my nail salon only allows tips in cash? They have an ATM in the shop in case you forget to bring cash.

Couple of other reasons. the salon may not have cash on hand to pay out the tips. And if you put a tip on the credit card, the business has to pay the processing fee on the tip amount. They have to pay a fee for you to be able to tip on the credit card.

[Anonymous]

Anonymous wrote:Won't be around much longer. In UK and Europe, everything is paid by cards these days. Cash is rapidly dying out. Same is happening in US. I tried making an appointment for a hair cut at a recommended salon and was told cash only. I laughed and said forget it. Went elsewhere. Not running to an ATM just to get cash for a haircut! Sooner or later the holdouts are going to realize they lose more business being cash only.

Lots of poor (or homeless) people don’t have cards. Discrimination should be banned.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Won't be around much longer. In UK and Europe, everything is paid by cards these days. Cash is rapidly dying out. Same is happening in US. I tried making an appointment for a hair cut at a recommended salon and was told cash only. I laughed and said forget it. Went elsewhere. Not running to an ATM just to get cash for a haircut! Sooner or later the holdouts are going to realize they lose more business being cash only.

Lots of poor (or homeless) people don’t have cards. Discrimination should be banned.

Which is why you can get prepaid cards. No credit check required.

[Anonymous]

Housekeepers are "cash only" i.e., venmo, zelle, checks. So are all of you people saying that all housekeepers commit tax fraud?