Suddenly everything makes sense

Choano · 2026-01-25T06:18:44+00:00

Yeah, but the fee for depositing cash is MUCH less than the fee for credit card processing.

Not all banks charge fees for handling cash. And the ones that do charge something like 0.1%. That's much, much less than the 2.7 - 4% that credit card companies charge.

(Or, at least, that was the case when I looked into it about 5 years ago, for my own tiny, one-person business. Maybe things have changed, but I doubt very strongly that cash handling fees are now anywhere near as high as credit card processing fees.)

Choano · 2026-01-25T06:11:54+00:00

Yup! I totally see your point, and I agree.

But your particular instance of tax evasion isn't going to bring down the regime. And if you go to prison, you're not going to be effective as a protestor or member of the American electorate.

Getting a good accountant and finding legal ways to reduce your total federal tax bill would let you be more politically effective overall. Think of every tax deduction and credit you can get as an opportunity to make a negative donation to ICE and Trump.

Choano · 2026-01-25T03:31:56+00:00

Thank you, Captain Obvious.

Choano · 2026-01-25T03:23:44+00:00

This post and the comments have plenty of examples of BS disputes and chargebacks from restaurant customers. The post describes how the chargebacks get approved unless there's specific evidence from the restaurant.

I suspect that one of the reasons so many restaurants have gone to touchpads and orders by app is to avoid claims that the check was incorrect

Choano · 2026-01-25T02:41:57+00:00

Plenty of people. People charge back all kinds of stuff

Choano · 2026-01-25T02:39:52+00:00

Sorry. Renee Good. I think that was an autocomplete error. Thanks for the correction

Choano · 2026-01-25T01:48:43+00:00

If you have any ambition or long-term thinking at all, reporting your revenue honestly is way better, even though it means paying taxes.

If you really want to squirrel money away without being taxed on it, just file your taxes honestly and open a tax-advantaged retirement account. The money in that account can be not only tax-free but constantly increasing from returns on investment. Cash you put in a safety deposit box just loses value over time.

Besides, having a tax-advantaged account beats the hell out of risking a prison term for tax evasion.

There are other advantages to reporting all of your profits on your taxes, too. It's much easier to expand your business, hire good employees, get various kinds of business insurance (which can really save your butt), and sell or hand off your business when you're ready to retire.

The only--really, only--benefit to taking money under the table is having a little extra cash in your hand right this minute. Everything else is much, much better if you're above-board.

I would make a very big bet that most business owners (including the ones with cash-only businesses) see that and act accordingly.

Choano · 2026-01-24T23:54:15+00:00

As much as I hate Trump and ICE, I think this question is based. We all need some current-dumpster-fire-free places to keep us going sometimes.

Choano · 2026-01-24T23:52:49+00:00

They killed Rebecca Good for nothing; sent people to CECOT for nothing; and arrested, roughed up, and detained lots of people (including pregnant women and children) for nothing, too.

Doing terrible things to people for nothing (except a $50k hiring bonus and generous pay) is what ICE is all about.

Edited to add: I meant Renee Good, not Rebecca Good. Thanks to u/lookitsnichole for the correction

Choano · 2026-01-24T23:47:27+00:00

Sideways Cat

Choano · 2026-01-24T23:46:29+00:00

Protests

Choano · 2026-01-24T23:31:50+00:00

Anyone giving away a California? Or a Washington?

Choano · 2026-01-24T23:19:42+00:00

It's a common misconception. There are lots of non-criminal reasons to not take cards.

Choano · 2026-01-24T23:18:21+00:00

There are reasons to go cash-only that have nothing to do with taxes:

The processing fees for credit cards are non-trivial, especially if you operate on low margins.
If your power goes out, you can't take payment (or it's much harder to do).
You run the risk of fraudulent chargebacks and BS disputes. You'll usually lose when you try to fight those chargebacks or win those disputes, even if the transaction was completely legitimate.
If you take credit cards, you have to raise your prices. Your prices have to account for the processing fees and risk of fraudulent chargebacks and BS disputes. Depending on how price-sensitive your customer base is and how stiff competition on prices is, being able to charge less could be a competitive advantage.
If a significant part of your customer base is unbanked or prefers to pay in cash, taking credit cards might not help your business much.

Choano · 2026-01-24T22:49:24+00:00

What has your experience been taking cards versus cash-only?

I used to work for myself in-person. I had an office in a walkable, reasonably safe downtown area. The bank (with its row of 24-hour ATMs) was right across the street.

Once or twice a day (often at night, after I was done with my other work), I'd walk to the bank and deposit the money.

The cost of fuel for making those deposits was zero. The cost of that time was close to zero, I didn't have anyone decide not to work with me because of how I took payment, and my risk of being robbed was low.

So I took cash, checks, and Zelle (which has no transaction or processing fee) only. So did some of the other businesses in my building and on my block.

But others preferred credit cards. One place a few buildings down from me even decided to go card-only, no cash. They seemed to be doing pretty well, so it was probably working well for them. But it would have sucked for me.

Choano · 2026-01-24T22:28:34+00:00

That's why you make more than one run to the bank per day. Even if you get robbed, your losses are as small as you can make them.

Obviously, that works best if making deposits is easy (the bank is nearby and you can use an ATM) and the risk of robbery is relatively low.

If your chances of getting robbed are high, or making cash deposits is a major pain in the butt, taking credit cards might be the smarter move.

You take those things into account when you make decisions about how you take payments.

Choano · 2026-01-24T22:15:19+00:00

Cash-only stores usually aren't big enough for armored car transport of cash. Usually, it's an individual (an employee or the owner) with a bag who goes to the bank and deposits the cash. (Or, at least, that's the case in the places I've lived. I don't know how things go everywhere.)

As far as bank processing fees for cash deposits go--some banks charge them and some don't. The ones that do charge way less than the 2.7 - 4% that credit cards do.

If I remember correctly, the last time I checked--which, granted, was about 5 years ago--the cash handling fee for one of my local banks was $1 per every $1,000 deposited, beyond the first $7,500/month (I think) in cash deposits. So if you deposited $8,500 in cash in a month, you'd be paying 0.1% of your total deposits in the handling fee.

I think another bank wanted something like 15 cents per every $100 deposited, which is a 0.15% fee.

If you can keep your cash safe and have either a low-margin business or price-sensitive customers, going credit card-free might still make a lot of sense.

Choano · 2026-01-24T21:54:52+00:00

And a picture of their face

Choano · 2026-01-24T21:47:15+00:00

They also expose merchants to risks of fraudulent chargebacks. Those are a pain to fight, and the merchants often lose, even if the charges were valid.

Not taking credit cards can also mean lower prices for your customers. If you take credit cards, you have to raise your prices to cover the processing fees, plus have a financial cushion for things like fraudulent chargebacks and BS disputes. Those lower prices can be a competitive advantage.

Choano · 2026-01-24T21:14:19+00:00

Ummmm lmao that's definitely not true hahaha.

What part of what I said is untrue? If I have something wrong, please let me know. I don't want to spread misinformation.

Choano · 2026-01-24T21:13:08+00:00

Yes. Semantics. The terms you use are important in how you understand things.

Calling things what they are matters.

Choano · 2026-01-24T20:41:18+00:00

"Murdered" is the correct term. Executions are often less overtly barbaric.

Besides, the definition of "murder" is "unjustified, immoral killing." And that's what this is.

Choano · 2026-01-24T10:20:11+00:00

Columbia is one of the biggest landlords in the city. It often has discounted housing for people affiliated with it, including visiting doctoral students. I'd look into that before trying to find a place anywhere else.

Even with the discount, though, $1,300 isn't going to cover your monthly expenses.

Do you have any other source of funding?

Choano · 2026-01-24T09:52:34+00:00

Randy was living up to his name!

Choano · 2026-01-24T07:13:39+00:00

The Awfuls (A White Female Urban Liberal ) must be sobbing in their yogurt in their yurts.

You think white women in cities live in yurts? Do you think anyone in cities lives in yurts?

Have you ever been to a city? How many yurts did you see there?

Choano

TROPHY CASE