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    How to write off cash payment
    In our business, I will on occassion hire a friend or family to help with a job. This is usually a one time event, which I will pay them less than $100 cash at the end of the day. Is there a way to write this off as a business expense even though I don't have a receipt for the transaction?


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    This isn't audit-tested, but I write up a receipt for them, and make them sign at the bottom of the receipt indicating that they received a certain amount in US currency from me.

    I include their full legal name, so if the IRS wants to investigate, they know who to talk to.

    It might not hold up in an audit, or it might, but at least it shows effort to comply with the law.


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    I will on occasion hire a friend or family to help with a job. This is usually a one-time event, which I will pay them less than $100 cash at the end of the day.


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    Payroll and Tax Issues When Paying Employees In Cash
    Employers must withhold payroll taxes (federal and state income tax and FICA (Social Security/Medicare) tax) from employee pay;
    Employers must also report and pay those payroll taxes, including both the employee and the employer portion of FICA taxes, to the IRS.


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    Payroll and Tax Issues When Paying Employees In Cash
    Employers must withhold payroll taxes (federal and state income tax and FICA (Social Security/Medicare) tax) from employee pay;
    Employers must also report and pay those payroll taxes, including both the employee and the employer portion of FICA taxes, to the IRS.


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    Hi Guys,,,,
    Employers must withhold payroll taxes (federal and state income tax and FICA (Social Security/Medicare) tax) from employee pay;
    Best Thanks


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    Hi Guys,,,,
    Employers must withhold payroll taxes (federal and state income tax and FICA (Social Security/Medicare) tax) from employee pay;
    Best Thanks


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