Cash discount??

[onebigtoe]

Do the hut opertors offer a better price if paying cash (ie. no receipt) vs the quoted pricing? Thought I would ask because I know some businesses that prefer just straight old cash and less headaches for taxes.

 

 

 

See you all this Friday on Nipissing..... keep an eye out for us, we will be the ones with all the fish!!!

[danbouck]

I'm sure they would let you know on a public forum

[Paully]

How much do you really plan on saving??

[Bondar]

CASH IS KING !!!!!!!!!!!!!!!!!

[onebigtoe]

I'm sure they would let you know on a public forum

 

 

I didn't expect an actual hut operator to post a reply, or else I would have asked an owner directly. (was more of a generalized question)

 

 

 

 

Considering we have 12 guys for 3 nights, I am just guessing the savings could be substantial. Not sure what would be a fair value though. I will ask when we get there and hopefully not put them on the spot.

[Dara]

How much do you really plan on saving??

 

 

A lot more once Mcguinty gets his way.

 

He is upping the cash job underground, thats for sure.

 

Its likely best that you have delt with the operator before and get to know them before you start talking cash.

[MCTFisher9120]

Used cash on Simcoe huts and it didn't make a difference.

[Michael_Brown]

Cash business actually lose money.

 

If you run it above board you can use all of the tax deductions available.

 

Of course there is always the chance of getting caught, spending thousands on legal fees, hanging out with Rev Canada auditors, being back charged for every cent you cannot account for over the last seven years, then they go to your suppliers and audit them. If you paid any employees over that time then they will have WSIB get involved and they will back charge you five years.

I should mention that most people trying to do this do not incorporate their business and then they are personally responsible for the fines.

 

Life can be stressful enough without trying to give a guy a quick deal for cash. Most companies prefer doing things right.

 

1.9 billion dollars was recovered from ontario underground construction activities last year. It has become a priority to follow up on these issues.

 

Good Luck.