Special people

**B.M.** · 16-01-2021, 07:28 AM

I would have thought these days Cash would have been more popular than ever with GST being 15%.

That’s 15% saved plus 10% from the Tradie for not having to do any paper work and you’ve already saved 25%.

It’s a Win Win situation except for the Government who have less to waste.

**gary67** · 16-01-2021, 07:47 AM

When I was a sole trader many years ago in the UK my accountant told me to always make sure enough went through my books to show I was earning enough to support the lifestyle I was living and anything cash above and beyond that would not be a problem. His theory being so long as enough went through the books IRD wouldn't come sniffing.

**piroska** · 16-01-2021, 08:29 AM

Originally Posted by B.M.

I would have thought these days Cash would have been more popular than ever

That’s 15% saved plus 10% from the Tradie for not having to do any paper work and you’ve already saved 25%.

Yes it's funny how many people thought myself or husband would be so happy to get cash from the customers.
No it was a PITA. You have to bank the stuff.
And you can't just make all transactions disappear, there's parts, materials you've bought, time spent etc....invoices given.......imagine, your account shows all this time buying stuff, advertising etc driving about, but no actual income from it all.
IRD aren't stupid.

Nor is it helpful....you don't go in and pay the supplier with cash...or the advertising or the landlord or whatever.

**B.M.** · 16-01-2021, 10:49 AM

Originally Posted by gary67

When I was a sole trader many years ago in the UK my accountant told me to always make sure enough went through my books to show I was earning enough to support the lifestyle I was living and anything cash above and beyond that would not be a problem. His theory being so long as enough went through the books IRD wouldn't come sniffing.

My Accountant was an ex Tax Inspector who didn't get a promotion he thought he was entitled to, so spat the dummy and left, going out in opposition as it were.

Worth his weight in gold as he knew every trick in the book.

**piroska** · 16-01-2021, 11:25 AM

We had one briefly.....I used to do all of it except end of year tax, we had different figures for provisional one time, she checked, rang me back and said I was right and we didn't need her and then she went to work for TVNZ .

I still hated doing the actual tax forms..........so hired a friends sister to do it. $140 a year.