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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (410886)	2/15/2011 1:46:08 PM
From: DMaA	Read Replies (2) \| Respond to of 793587

I was landscaping a house once. Bought some trees from a guy. Quoted a price if I paid with a check, 20% lower if I paid with folding green.

To: Brumar89 who wrote (410886)	2/15/2011 2:32:55 PM
From: Katelew	Read Replies (3) \| Respond to of 793587

If a restaurant owner buys from a food service company, his purchases are then a matter of record with the food service company. Thus the IRS could ask the food service company to turn over its records related to that particular restaurant. A grocery store doesn't keep track of who buys what. Neither does a retail liquor store. It was this difference in tracking that was behind my statement. I don't think a Sam's Club or a Costco keeps these kind of records either, but am not sure. Maybe all of our purchases there are being stored under our ID membership numbers and thus subject to recall if demanded by the IRS? I just don't know. And wouldn't a restaurant owner want to hide his income for tax purposes, not his purchases? Hide the income not your costs. You deduct those. A tax cheat has to keep things in balance. Reporting more expenses than income year after year will trigger an audit at some point.