January 7, 201610 yr This thought crossed my mind, and I want to get some opinions. Do you ever pay for services, such as home repair, and ask for the "Cash Price" ? If so, since that price tends to be less than the invoiced pricing, are you concerned about that transaction from a tax evasion perspective ? While cash is acceptable, and more frequently, cash pricing is becoming more available at the retail level, is there a general thought / belief out there that "cash pricing" for services is dishonest ?
January 7, 201610 yr Depending on the cost and agreement they have with merchant services a company could have a significant cost to run a CC for your bill. 2-5%. So it makes a lot of sense for a small business to offer a discount to avoid that. Other times they are likely avoiding paying some of the taxes yes.
January 7, 201610 yr No issues. Not your, as the consumer, responsibility to worry about how they're reporting their income.
January 7, 201610 yr I almost always use a CC. But as was stated, the fees for CC's for are not small business friendly. If the difference was more than a small amount I would have no issue with paying cash.
January 7, 201610 yr Depending on the cost and agreement they have with merchant services a company could have a significant cost to run a CC for your bill. 2-5%. So it makes a lot of sense for a small business to offer a discount to avoid that. Other times they are likely avoiding paying some of the taxes yes. I would agree with you accept now banks are charging for cash deposits into your accounts. So they fee you may save from CC merchant, will be spent as a bank fee for depositing cash.
January 7, 201610 yr I would agree with you accept now banks are charging for cash deposits into your accounts. So they fee you may save from CC merchant, will be spent as a bank fee for depositing cash. What bank are you using? They charge you to deposit cash into your own account? That's dumb.
January 7, 201610 yr All across our great land young women are paying their way through college on cash-only transactions.
January 7, 201610 yr All across our great land young women are paying their way through college on cash-only transactions. One single at a time
January 7, 201610 yr Anyone ever ask for the "cash price" or "best price" at a pharmacy? Any luck? Some drugs are cheaper than copays, particularly older drugs. However, a lot of places offer them free or for $4 now. The newer drugs, you never want to pay cash for because a 30 day supply could be hundreds now. Mail order is the best way to go for those.
January 7, 201610 yr What bank are you using? They charge you to deposit cash into your own account? That's dumb. Fifth Third, Huntington, BB&T, PNC, most of them do. Normal limit is if you deposit over $5000.00 of cash in a month.
January 7, 201610 yr Anyone ever ask for the "cash price" or "best price" at a pharmacy? Any luck? Yeah it can work in your favor at times. Good to Prices, Coupons and Information - GoodRx and it will tell you who is cheaper. Amazing how much of a difference there is at times from places right next to each other.
January 7, 201610 yr Anyone ever ask for the "cash price" or "best price" at a pharmacy? Any luck? My wife and I did for the medical bills following her ordeal. Saved us 10-15% on most bills...that equates to 1,000s
January 7, 201610 yr Author All across our great land young women are paying their way through college on cash-only transactions. One single at a time Only for medical or law school as far as my research indicates...
January 7, 201610 yr Author No issues. Not your, as the consumer, responsibility to worry about how they're reporting their income. I don't disagree, however, the deeper ethical question is: If you know, are pretty sure or likely suspect that it is being done to avoid taxes (wink, wink)...then doesn't this make our US Government cash very similar to BitCoin transactions ? Essentially re-establishing the value of a transaction based on the payment method ? If you know that it's being done to avoid taxes, then as a consumer, do you have any moral culpability in contributing to stealing from the government ?
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