Cash to carry while on the road?

[2gypsies]

8 hours ago, palmeris said:

We ask if there's a discount if paid in full with cash.  We have seen different percentages range from 2 % to 10% but the majority being no sales tax on the transaction...

Never heard of 'no sales tax'.  Isn't that a law if required in a state?

[palmeris]

Of course. Reporting sales tax is the responsibility of the seller. Easier to keep a cash transaction off the "books"

[Kirk W]

1 hour ago, palmeris said:

Easier to keep a cash transaction off the "books"

Also true for income taxes. 

[rickeieio]

While tax avoidance is a concern, it's none of my business, nor my job, to assure a vendor is honest.  That goes for reporting tips as well.  My job is to be fair, and pay less if I can do so without cheating anyone.  to that end, having some ready cash has served me well.  Just this morning, I had a local mechanic help me with a truck issue.   When I asked him what I owed him, he said "How about $100?"  I told him he was too cheap, and handed him a $100 bill.  It's on him to report it, or not.  But I guarantee you, if I need his help again, he'll be there for me.

[lappir]

2 hours ago, rickeieio said:

While tax avoidance is a concern, it's none of my business, nor my job, to assure a vendor is honest.  That goes for reporting tips as well.  My job is to be fair, and pay less if I can do so without cheating anyone.  to that end, having some ready cash has served me well.  Just this morning, I had a local mechanic help me with a truck issue.   When I asked him what I owed him, he said "How about $100?"  I told him he was too cheap, and handed him a $100 bill.  It's on him to report it, or not.  But I guarantee you, if I need his help again, he'll be there for me.

My guy is the same way and if I can I pay him in cash for sure. I'm sad he is 10 years older than me and will completely retire some day and there's no one to even come close to replacing him. 

 

Rod

ps, fully agree with the quoted content. 

 

[sandsys]

3 hours ago, rickeieio said:

While tax avoidance is a concern, it's none of my business, nor my job, to assure a vendor is honest.  That goes for reporting tips as well.  My job is to be fair, and pay less if I can do so without cheating anyone.

My only experience with this was when I sold our tent trailer to a guy. When we went to city hall to transfer the title, he wanted me to say he paid less than he did to reduce the tax he owed. That felt like my business and I couldn't do it. 

I once had a friend who told me I was excessively honest because I wouldn't accept a cassette of train sounds he pirated.

But, I do have music on my phone for which I once owned the originals but no longer have them.

Linda

[Payroll Person]

Gubmint costs x to operate. Those who earn under the table or otherwise cheat, someone (those who are honest) have to make up the shortfall.

Under reporting hit self employed HARD during COVID as they could not prove their full income to get Covid Bennies.

Under reporting also means paying less into ss and Medicare. Ss under report is self harming, and harms spouse and potentially offspring. Under reporting for Medicare hurts all. 

Edited January 30 by Payroll Person

[Ray,IN]

Paying in cash; Last spring I had the crown of a huge red oak 85' tall near my house cut off. The business owner said he preferred cash. I don't know what he meant, but he was quite taken-back when I counted out 20 one-hundred dollar bills into his hand.

As to  what others do,  I have enough trouble minding my affairs.

[bruce t]

I recall a well known wealthy businessman stating that paying too much tax for politicians to waste was a bigger sin than avoiding, legally, paying tax. 

[justRich]

I was thinking that this might be something that would hold a few thousand and be mounted inside a closet behind some clothing - or something along those line.

 

[Kirk W]

Two questions to consider, RV fire or accident when you must exit quickly.

[2gypsies]

Don't bother finding a 'secret' hiding place.  As Kirk stated above..... in a fire or accident you, most likely, would not be able to go get your money.

We had a friend who had a 'fireproof safe' "hidden' in the rear closet and had a fire.  When he was able to check the safe everything in it was in ashes for the heat.  Yes, the safe was fireproof but the heat was the culprit.

We always kept a 'go' bag sitting right behind the passenger seat.  In it was our extra cash (not much) titles to vehicles and important papers.  Whenever we left our motorhome for maintenance or if we'd be siteseeing for the day we grabbed the bag, especially since we boondocked a lot on public lands and the RV was there alone.  We never had an issue of a break in though but we were just being cautious.

[bruce t]

We had a safe in our rear closet in the motorhome. It was a PITA. I doubt even the crooks would go to the bother of trying to open it. One of those smart dumb ideas.

 

[rickeieio]

Well, well.  Today I was standing in a place in our rig where a normal person would never have reason to stand.  It gave me view of a hiding place my wife had used, and forgotten about.  Woo-Hoo!!!!!

Seriously, as we enter our Metallic Years (gold in our teeth, silver hair, and lead a$$) we need to keep a log of where we stash cash.  I think I may start taking pictures of hiding places.  As long as the money's not visible in the pic, no one would ever connect the dots.

[sandsys]

16 hours ago, rickeieio said:

As long as the money's not visible in the pic, no one would ever connect the dots.

Except you told all of us.

Linda

[kb0zke]

And as long as you remember WHY you took that picture.

[rickeieio]

5 hours ago, kb0zke said:

And as long as you remember WHY you took that picture.

There lies the problem.  As we age, we forget.  My dad used to say he could hide his own Easter eggs.........

[Steven@146]

Good discussion. We do a little of everything that you all have been talking about. We do have a fire "resistant" safe in the RV and most all of the documents like passports and a few hundred $ (just in case) are in a fire proof bag inside the fire "resistant" safe, key or digital combination. However, like you say probably end up ashes if the RV burned to the ground. I think they will still replace burned cash if it isn't too burned up. We also have a "Go Bag" in the truck.

We have run into one campground that would only take checks/cash, no credit or debit cards. I haven't wrote out a check in years.

Use CC for refueling, restaurants or other purchases and multiple CC from different banks in case a card is compromised so we are not stuck waiting for a card to be replaced. Watch the postings to our cards very closely and have cancel card on speed dial. Only use debit cards at grocery stores or WalMart and sometimes get $20 or so back.

For irreplaceable documents/items you could always get a bank safety deposit box near a family member and have them on the list so they can get into it as well, just in case. Then they could send you what you need or copy/notarize it and send it to you.

Edited March 2 by Steven@146

[Kirk W]

1 hour ago, Steven@146 said:

safe, key or digital combination. However, like you say probably end up ashes if the RV burned to the ground.

Under regulations issued by the Department of the Treasury, mutilated United States currency may be exchanged at face value if more than 50% of a note identifiable as United States currency is present. If you have over 50% of the original torn bill and it's easy to identify, most banks will exchange it for a fresh bill in the full amount. For burned currency it is a bit more difficult but not impossible.

Reference: Federal Reserve, Mutilated Currency and Bent or Partial Coin

[mike5511]

I always try to keep enough cash to buy fuel to get home on, or preferably, just keep the tanks full enough to get back home, should the need arise. 

[Solo18]

I keep enough cash hidden to get gas and drive enough miles to get out of the way of a natural disaster such as a hurricane or earthquake were to occur and it was difficult to buy gas or food.  One tip i learned from someone in Napa, however, after the last earthquake there a few years ago, is to carry your emergency cash in a combination of large and many small bills.  She owned a storage business and had been tossing extra ones and fives in a drawer.  After the earthquake, a nearby small grocery store was having problems because everyone was coming in with big bills to buy a gallon of milk or some bread, and he could not make change, so she went home and gave him all her stash of small bills.

[sandsys]

48 minutes ago, Solo18 said:

I keep enough cash hidden to get gas and drive enough miles to get out of the way of a natural disaster such as a hurricane or earthquake were to occur and it was difficult to buy gas or food.  One tip i learned from someone in Napa, however, after the last earthquake there a few years ago, is to carry your emergency cash in a combination of large and many small bills.  She owned a storage business and had been tossing extra ones and fives in a drawer.  After the earthquake, a nearby small grocery store was having problems because everyone was coming in with big bills to buy a gallon of milk or some bread, and he could not make change, so she went home and gave him all her stash of small bills.

Good point! I've heard of people paying $20 for a bottle of water because no one had anything smaller.

Linda

[Billmthornton]

We have travelled a lot over the years, just now RVing a couple of time per month. We use American Express where we have no cap on spending. Some months I admit the envelope lays on the desk a day or two before opening. We carry little cash maybe $200 between us. We do have debit card and backup credit card in case we find a merchant that does not take Amex. For fuel we use an EFS fuel card that provides fuel discounts at most truck stops.

[Solo18]

The problem occurs when electricity is down and/or businesses cannot access the internet or databases with their electric cash registers.  Sometimes, they will have a generator and will be able to run gas pumps, but don't have a way to put a credit card through, so they will sell gas or food as a cash purchase only. 

That's why it is always a good idea to have some extra cash tucked away, preferably in small bills.  In Napa, the small neighborhood grocery store I mentioned sold food by keeping paper tabs and using a calculator to add up prices for customers who could pay cash. 

[emilyhlib]

Of course, 95% of us use a credit card. But we always have $150 in cash just in case. If we have used some of that money, we withdraw more from the nearest ATM