> That's really more of a "Want to pay more than your fair share of taxes? Help them commit tax fraud".
This seems like a trope put forth by the middle men other than the government who want to keep getting their cut of every transaction in the world. "Don't cut out Visa and PayPal, that's practically stealing from your neighbor!"
You can obviously accept payment in cash and report it as taxable income, and not doing this is a good way to get caught, because if you're spending thousands of dollars a year more than you're declaring in income and the government asks you where it came from, you're going to have a bad time.
Meanwhile people who want to risk going to jail can do it just as well by deducting personal expenses as business expenses, or just making up business expenses and hoping nobody comes to check. All while letting payment processors siphon off something like 5% of your gross revenue, which for these kinds of things is often in excess of half your net income because your net margins were less than 10% to begin with.
This seems like a trope put forth by the middle men other than the government who want to keep getting their cut of every transaction in the world. "Don't cut out Visa and PayPal, that's practically stealing from your neighbor!"
You can obviously accept payment in cash and report it as taxable income, and not doing this is a good way to get caught, because if you're spending thousands of dollars a year more than you're declaring in income and the government asks you where it came from, you're going to have a bad time.
Meanwhile people who want to risk going to jail can do it just as well by deducting personal expenses as business expenses, or just making up business expenses and hoping nobody comes to check. All while letting payment processors siphon off something like 5% of your gross revenue, which for these kinds of things is often in excess of half your net income because your net margins were less than 10% to begin with.