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💥 Business owners writing checks to “Cash”? Let’s talk about the chaos that follows.
Because what you think saves hassle actually invites headaches (and maybe an IRS fan club).
Here’s the breakdown:
💸 No shortcuts → Writing “Cash” doesn’t erase 1099 obligations. The IRS still wants its slice.
🤯 Chaos guaranteed → Try explaining “mystery cash” when applying for a loan. Spoiler: banks don’t buy shenanigans.
🧾 Bookkeepers aren’t magicians → If you hand us “Cash,” don’t expect it to vanish. It ends up in Owner Distribution. Period.
👉 Sometimes the right thing costs more upfront—but it costs way less than the wrong thing later.
🔥 Join our Bookkeepers On Fire Community to connect 🤝, collaborate 💬, and thrive 🚀 with like-minded professionals who are passionate about bookkeeping, accounting and business growth.
Join us here: Bookkeepers On Fire Community
Bookkeepers On Fire is proudly ad-free and 100% listener-supported, so we can bring you unfiltered conversations without outside agendas. If you enjoy the show, consider donating to help keep our mics hot and our mission independent.
🔥Donate with Venmo🔥 🔥Donate with PayPal🔥
#Bookkeeping #SmallBusiness #TaxTruths #BookkeepersOnFire
By Deb Kilsheimer & Donna Reade5
1010 ratings
💥 Business owners writing checks to “Cash”? Let’s talk about the chaos that follows.
Because what you think saves hassle actually invites headaches (and maybe an IRS fan club).
Here’s the breakdown:
💸 No shortcuts → Writing “Cash” doesn’t erase 1099 obligations. The IRS still wants its slice.
🤯 Chaos guaranteed → Try explaining “mystery cash” when applying for a loan. Spoiler: banks don’t buy shenanigans.
🧾 Bookkeepers aren’t magicians → If you hand us “Cash,” don’t expect it to vanish. It ends up in Owner Distribution. Period.
👉 Sometimes the right thing costs more upfront—but it costs way less than the wrong thing later.
🔥 Join our Bookkeepers On Fire Community to connect 🤝, collaborate 💬, and thrive 🚀 with like-minded professionals who are passionate about bookkeeping, accounting and business growth.
Join us here: Bookkeepers On Fire Community
Bookkeepers On Fire is proudly ad-free and 100% listener-supported, so we can bring you unfiltered conversations without outside agendas. If you enjoy the show, consider donating to help keep our mics hot and our mission independent.
🔥Donate with Venmo🔥 🔥Donate with PayPal🔥
#Bookkeeping #SmallBusiness #TaxTruths #BookkeepersOnFire

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