Sure! You can ABSOLUTELY get a cash discount for your services. You’ll save money on checks, pen ink, postage, and the pesky responsibility of balancing your account. What you won’t get with a cash discount however is a paper trail. In this day and age with the lawsuit happy culture we live in, covering your tracks and protecting yourself is important. In the business world (not the make believe business world), you have to pay your fair share of taxes.
As tempting as it is to pocket every dime that comes in, you have a fiduciary responsibility to pay your fair share just like anyone else. In fact, as a business owner, we are responsible for typically 30% more in taxes than the average consumer. There’s self employment tax, corporate taxes, sales taxes, service taxes, income taxes, and the list goes on. By offering a cash discount for the purposes of evading taxes, is illegal. And if you’ve put your heart in soul to a business that you built from the ground up, you’d hate to throw it all away just to save a buck. It’s not worth it.
But what about tax write offs? Yes, it’s true. Businesses can write off certain expenses to help ease the burden of tax liability. But they have to be legitimate deductions. If we were trying to evade taxes and hide cash, we wouldn’t be able to open lines of credit, put that cash into an account to pay for the necessary expenses or invest in the business to grow it and offer better services to our clients. We offer the best services we possibly can and keep innovating to be the best we can be for you, our clients.
That is why it is important to do things by the book. If you’ve ever seen the discount stores while driving down the street and notice that a short time later they’re “going out of business”, ask yourself why. The deep discounts they are offering lack value. When you discount shop, you aren’t expecting quality. You’re expecting cheap and easy. We pride ourselves on doing right by our clients and will continue to do so. Paying taxes helps fund education programs, public works projects and more. It’s our civil responsibility and benefits everyone.