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Cash only Rant *Updated*

Discussion in 'Off-Topic' started by SHOCKNAWE, Jul 5, 2019.

  1. one-eyed Jack

    one-eyed Jack Manufacturer Dealer NES Member

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    Last year I needed a large willow tree cut down and taken away because it was close to the house and rotting inside. I was worried about the next wind storm. I got a quote which looked good, but the guy wanted 4-6 weeks lead time. I told him that payment would be in $100 bills and a cash tip for his helpers. He was here in less than a week. Cash is king. Jack.
     

  2. teaser452

    teaser452

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    Of course it is.

    People do not understand that when you pay a guy 15 bucks on the books, it really costs the employer 30 bucks or more.

    Off the books? Different story.

    Same goes for a myriad of other costs.
     
  3. RumRunner

    RumRunner NES Member

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    This is true. Was talking about it not long ago with a waitress when I paid tip in cash. She explained that if she didn't declare enough that they would tax her on expected tip earnings anyway. So there isn't as much room for not declaring tips as a lot of people think.
     
    Len-2A Training likes this.
  4. blindfire

    blindfire NES Member

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    As if I need to say it...but NSFW language for anyone who hasn't seen this classic!

     
    Grendizer138 likes this.
  5. atmay

    atmay NES Member

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    There is no state in the Union where tipped employees are not entitled to the same hourly wage as non-tipped employees.

    7 states, and several territories, require customarily tipped employees to receive the same minimum wage as all other employees, before tips.

    The other 43 states use the tip-credit system (which is also federal law, as part of the Fair Labor Standards Act), with 26 of those requiring a minimum employer contribution greater than that required by federal law ($2.13).

    The tip-credit system varies from state to state, but generally, an employee’s calculated hourly earnings cannot be below the required minimum. Federally, this is calculated by dividing weekly earnings by weekly hours (i.e. if you work as a tipped employee for 40 hours in a week, you must earn at least $290 in that week. If you earn $100 in tips that week, your employer must pay you $190. At a minimum, your employer must pay you at least $85.20)
     
  6. mrmike7189

    mrmike7189

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    If I dont have cash...then I wont buy it! Victim of CC fraud several times. Guess I'm unlucky!
     
  7. appraiser

    appraiser NES Member

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    IIRC for tax purposes, the IRS assumes you make 7% tips on your gross sales, and your employer will withhold and submit on your behalf at least the minimum tipped worker wage plus 7% of gross sales, or minimum wage whichever is higher. What sucks is they may have to tip out the bartender, busboy and others out of their tips.
     
  8. rep308

    rep308 NES Member

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    my best story:

    6-7 winters ago my roof had lots of snow and ice dams and water was leaking into 3 of my rooms on the top floor. I look out my window and see three guys shoveling off my neighbors roof. I ask them how much to do mine and they say "$600 but we are booked and you'll have to call our boss". I go home, pull $600 out of the safe and say "I've got $600 cash right here". They say "we'll be over in a half hour but don't tell the boss"

    2 hour later my roof was cleared and water stopped dripping in, try that with a credit card
     
    AHM, drgrant, KBCraig and 3 others like this.
  9. KBCraig

    KBCraig NES Member

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    Point taken; what I should have used as an example was a Fight For 15 state.

    No tipped server (almost) anywhere makes less than that, unless they work for some skimming scam operation that requires kickbacks.
     
  10. KBCraig

    KBCraig NES Member

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    The percentage has varied over the years. Back in my restaurant days (which is when it was almost all cash, and 10% was considered standard for good service), the servers would gather around the calculator every night with their tabs to figure out and then declare exactly the minimum. I warned them against doing that, because it was too obvious and would send up a red flag to the IRS and trigger an audit, but they didn't listen.

    A couple of years later, the IRS started doing exactly that. Did they go after big tax cheats? No, they went after wait staff, barbers, and beauticians... all relatively low income, all cash, tipped operations.
     
  11. Broccoli Iglesias

    Broccoli Iglesias NES Member

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  12. AHM

    AHM NES Member

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    [​IMG]
     
  13. robjax

    robjax

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    I always carry some cash with me all the time. So I have no issue of some business its cash only. I prefer to use cash but cc's are convenient. But the majority of people who use cc's always carry a balance. I read about a study some time ago and the study showed that Americans average 15k in outstanding cc debt. And though some people like myself never carry a balance, that is a rare occurrence. The cash back that some of these companies offer is largely offset by interest if there account isn't kept current.
     

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