Looked at the job, def. 45-50,cut up,the guy I met had no buisiness cards,no company truck, he just wants a price to do the job,close to home, sounds good ???pay in cash ? I never heard of the company, I feel a bit un easy…
Would not touch cash jobs at all anymore. WIth what you said you are asking for trouble.
Cash up front!
Cash in hand before job starts makes roofer appear on site tp do the job - Confucious says
how much cash up front? one theird? half? Im sure that would be about it…unless ?
Paid in cash. Well id never let anyone pay me in cash. But looking at your situation i guess id make an exception. Taxes man, Taxes. Thats all i got to say.
Dont use the IRS as a bank because they WILL burn you and nail your AZZ to the wall. Im against any cash deals whatsoever. Some people like it but you can put that money in the bank if you are a truely licenced comapny that is above board. Your accountant will be asking where this money came from and what did you do with it. DO what you want but you are asking for trouble working for cash.
I take cash from customers and often they want a discount because of it. I explain that cash, check, charge - it all counts as the same to me. Sorry but no discounts. Any legit company should work like that. Cash is a form of payment just like anything else. We pay our taxes and report it all.
Im just saying some do not report and it. OR forget to report it.
Cash or check is better then a credit card. Does not cost me anything to take them.
You have a good point there i would just rather it be check. This way there is record of it.
Either way is good, just as long the customer an you sign a valid receipt. In that case it is all legal. For yoo and the customer.
@ The very least have the customer pay for the material up front; have them order the parts on your instructions or get them to cut a check in the amount of the parts you want.
Feel free to tell them you are using parts out of inventory & while you want a check for X" dollars, the actual cost for parts is X+$300.00 or something like that… if you’re doing any kind of parts markup (different people have different business models).
It also lessens your tax bite if you only have to show payments out to labor than to show parts AND… @ first look, it doesn’t appear as if you have taken in quite as much money.
For me, I’d rather be stuck with owing labor only than to owe labor AND parts. Be sure to have a contract signed - one that specifies any options for you to file liens, charge a % per month a balance due is carried, etc. For me, ca$h isn’t any big deal because whether it’s a check or ca$h, it still gets deposited in the bank.