k r
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HUGE MISTAKE!!! Same thing happened to me when I was young. First, it is illegal. Yes, it is a criminal offense for both of you. (unless you get less that $500 a year,about) There is a reason it is illegal. Everyone in America is supposed to pay some taxes on their income, and that money goes to pay for our roads, schools, welfare, and all sorts of extra stuff. If you dont pay your share, it raises taxes for the rest of us, and therefor you are stealing from all people that do pay taxes.
When we hurt others, it tends to come back to us. In this case, it comes back to you that if you dont pay the taxes you will not have a recorded income. If you ever go to buy a home, you will be required to provide several years of recorded income from the IRS. No loans and no house for you! No small business loan. No political jobs. The list goes on.
Also, if you later decide to pay the taxes that you should have, you will owe most likely TONS of money in interest, penalties, etc. TRUST ME, YOU DO NOT WANT TO WORK for this kind of illegal person that is taking advantage of you. They are doing it only to save money by not paying the government your social security money, and other benefits you are allowed. That is like stealing from old ladies in retirement homes. RUN FAST! |
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Wayne Z
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No.
You must pay taxes regardless of how you are paid. |
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bostonianinmo
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No, he's not.
Figure that your tax bill will be between 30% and 45% of whatever he's paying you. Unless he's making a VERY generous offer, he's NOT doing you any favors at all.
BTW, when you cash the check you'll have to endorse it. This will leave an audit trail that will burn BOTH of you if you don't play by the rules. |
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Amy V
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Sorry, not true. Anything paid to an employee is taxable and must be declared on your taxes. Anything over 600.00 in one calendar year without taxes taken makes you an independent contractor and both you and the person paying you must report it. |
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MissionSuccess
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No, it is illegal!!! |
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Judy1
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If you want to do something illegal and risk being in trouble with the IRS, then yes he's right.
You are legally required to report and pay taxes on this income. It's illegal for him to pay you this way, or for you to accept it. |
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ronald r
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no, any one
http://redtagdeals.com/turbo_tax-coupons |
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LILY L
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Yes. if the person who pay you the money did not pay for any tax and you also don't need to pay tax. |
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Dizney
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Of course you have to declare the income and pay taxes on it!
Don't listen to "The Don." Honest people will report it. Idiots hide things. |
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Kristen D
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Technically, yes, he is right. As far as the bank is concerned, he is cashing that check. Really though, it is dishonest and he knows it. |
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The Don
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you're supposed to report it and pay taxes on it, but only an idiot would report it... |
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