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Updated about 12 years ago on . Most recent reply

User Stats

299
Posts
47
Votes
Roy Gutierrez
  • Investor
  • Oak Park, MI
47
Votes |
299
Posts

Contractors wanting to get paid cash

Roy Gutierrez
  • Investor
  • Oak Park, MI
Posted

Hi guys,

I'm sure a lot of you, actually I'm sure ALL of you have run into contractors that want to get paid cash, no receipt, there's one that I know does good work he offers a very good price but he wants all cash, what's your take on that? How do you handle workers that want to get paid cash for significant amount of work? If I go with this guy, I want to declare the expenses but there's no record of me paying him and I'm not sure I feel comfortable with this especially if it affects my taxes, I'm going to ask my accountant but I would like to hear your investor input.

Thanks.

Most Popular Reply

Account Closed
  • Dallas, TX
744
Votes |
4,988
Posts
Account Closed
  • Dallas, TX
Replied

It depends on the amount and how much of discount they are giving you.

Joe Gore

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