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Bank Of America check

Discussion in 'Business Fundamentals' started by BigDave12768, Feb 23, 2009.

  1. BigDave12768

    BigDave12768 PlowSite.com Addict
    Messages: 1,446

    I have a guy I plow one of his 3 Family houses. I have plowed for him the last 3 years. And he usually gives me a check off a account at Rockland Trust. Well he gave me a check to Bank of America this time. I handed it right back to him and told him he had to wite me a new one for $6 more. We are only taking $150 here. But Bank of America charges $6 to cash a check if you dont have an account there, Even if its there check!!!! He kinda got annoyed with me a bit. But he likes my service and has asked me to plow his other properties. But they are in Dorchestor and Roxbury and not worth driving that far for a couple driveways. And he knows I will drop him in a heartbeat like I did his buddie who had 4 driveways( Small roads, Tight areas) So he gave me 6 bucks in cash. Hmm Maybe Bank of America whose stock plummeted might want to consider some of there foolish fee's
  2. blk90s13

    blk90s13 PlowSite.com Addict
    Messages: 1,157

    why can't you just deposit it in you own bank ? you still pay $6 !
  3. BigDave12768

    BigDave12768 PlowSite.com Addict
    Messages: 1,446

    He supose to be a cash customer. But Iet his personal checks slide. But I am not going to take $6 out of my pocket for one of the most riduclus fee's in the world. Its there check on a account they can see has the funds. Why should I pay $6 to cash a check at there bank. And have to listen to some nit wit try to sell me there services.
  4. kashman

    kashman PlowSite.com Addict
    Messages: 1,070

    i know my bank will cash any check no charge no hold
  5. stroker79

    stroker79 2000 Club Member
    Messages: 2,802

    yeah just deposit it in your own bank account for free. I dont get it.
  6. kashman

    kashman PlowSite.com Addict
    Messages: 1,070

    if you dont have an account yes you will have fee at every bank
  7. BigDave12768

    BigDave12768 PlowSite.com Addict
    Messages: 1,446

    Not true at all. My bank doesnt charge anyone to cash a check I write to them. Bank of America has foolish fee's. His bank was real close. I wanted to be payed in cash and my bank was a good 15 minute drive in the other direction. This guy has a driveway thats worth $40 easy. I charge him $30 cash becuase its easy and on my way to my sisters to plow her driveway. So I dont want to have to deal with all the bull **** of Bank of America when he is a cash customer
  8. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    I wonder who else knows he's a cash customer?
  9. BigLou80

    BigLou80 Senior Member
    Messages: 558

    As in you don't report the income!I guess you don't want any one else taking a portion of that money either. I am sure I would not be making a stink over 6 dollars.

    In fact if I was your client I would drop you in a second for a stunt like that
    so much for honest professional decent businessmen ?

    Just to be clear all of my regular clients get invoiced regardless of payment method.
  10. ahoron

    ahoron Senior Member
    from here
    Messages: 422

    That's just enough to get him to call the irs and have you investigated for tax evasion. I'm not saying you're not paying your taxes. But if it walks like a duck talks like a duck well you know the saying. Why not just get a business account? that way you won't have to pay those huge fees. The fees are to discourage non-customers from coming to cash a check. Lots of fraud now-a-days with stolen checks.
  11. BigDave12768

    BigDave12768 PlowSite.com Addict
    Messages: 1,446

    Under 600 under you dont have to report it. I got 2 driveways. That one has like a 6 inch trigger. Other has only used me 3 times. Good luck dig away. Maybe you can report me for plowing my sisters for free. I dropped his buddie after first storm thats how much I dont want my own stuff.

    As for paying Taxes thats a can of worms that is best left untouched on this board. Not the paying part. Where the money goes part.
    Last edited: Feb 23, 2009
  12. lilweeds

    lilweeds PlowSite.com Addict
    Messages: 1,178

    Not true you are required to report ALL income. The $600 is the point that triggers a person to sedn you a 1099 to remind you to report that income.
  13. QuadPlower

    QuadPlower PlowSite.com Addict
    Messages: 1,056

    That is right.

    If you make money, then you have to be a business and report it. If you aren't making that much,then the tax advantages would be greater. Deduct your gas, insurance, plow parts, truck parts, etc. The list goes on and on. It can reduce your overall tax payments.
  14. cretebaby

    cretebaby PlowSite Veteran
    Messages: 4,162

    Your obviously dodging your tax liability

    So why advertise it on a public forum

    Even Walmart charges to cash a check

    The part I dont understand is why you cant cash it at your own bank
    Last edited: Feb 23, 2009
  15. snowman55

    snowman55 PlowSite.com Addict
    Messages: 1,071

    he doesn't want to leave a trail. tax evasion for $30. another reason taxes are so high. I have to pay for big daves taxes too.
  16. JDiepstra

    JDiepstra PlowSite.com Addict
    Messages: 1,780

    Pretty much every bank charges to cash a check for a person who does not have an account there.

    His own bank will not cash it because they can not verify the funds. He can deposit it at his own bank but as said, there is a paper trail created.
  17. procut1

    procut1 Senior Member
    Messages: 380

    I love how everyone gets MR HONEST on these forums.

    There aint a one of you that wouldnt take $40 cash if the customer handed it to you. You would stuff it in your pocket and that would be the end of it.

    Give me a break.
  18. fireball

    fireball PlowSite.com Veteran
    Messages: 545

    nothing is more simpler than just depositing the check in your own account.

    But in defense of BigDave and those that are quick to assume that he is avoiding taxes. His customer lives two houses from the bank and since Dave is there doing the drive and the customer leans out the door and hands him a check. Since no one is waiting in line at the drive thru, it just might be easier to cash the check than to make out a deposit slip.

    My question is: Can BofA legally charge Dave a fee to cash a check. After all it is a payment on their demand account. I think they can make Dave jump through hoops proving he is the same person on the check and they can withdrawal payment until their customer verify's that they indeed mean to pay him . I would probably file a complaint with the Federal reserve and if you feel real lucky get a lawyer and fill a class action lawsuit.

    My bank charges .10 a deposit (but there might be 150 checks on one deposit slip) and .15 on each check I write. They also pay 2% on the average daily balance in the account and that usually results in a no cost account to me. There are no charges on electronic payments and withdrawals. Wire transfers are 2.00 each. They allow you to electronically deposit checks but each check is a seperate deposit if done electronically and thus you will be paying .10 a piece for the conveience but you do get the speed of instant deposit.
  19. stroker79

    stroker79 2000 Club Member
    Messages: 2,802

    A one time or occasional type deal you are absolutely right. But I would NEVER set an account up as cash only to evade paying taxes. Im sorry but its much cheaper to claim everything than to pay the fines and fees.
  20. procut1

    procut1 Senior Member
    Messages: 380

    Im not agreeing with making a habit of it. I never did that either.

    I just laugh when a guy mentions cash and gets flamed off the board.

    Like nobody ever plowed a driveway and pocketed the money.