Viewing a single comment thread. View all comments

celebratedrecluse wrote

I would recommend that you file your taxes on anything that you deposit in your bank account, you can refer to this income as tips from your job which your employer did not include in your paycheck. It helps to have a steady stream of income from some direct deposit to launder this through. If you don't have that, perhaps a trusted friend does (I would recommend someone who you have a connection with that is not mediated by work, like an old friend you've known at least a few years to be a good person, who has a "day job")

4

greentea OP wrote

Thanks so much! Sorry for my clumsy follow up question, but do you mean deposit money in a trusted friend's account? Thanks again

2

celebratedrecluse wrote

Have them deposit for you, and declare on their taxes the income, your deposits will pay your share of the increased tax burden (keep track of your deposits and use a tax calculator website). Major payments that cannot be made in cash, like your rent etc, will be made from this account.

The reason it is really important to trust this person, is they could potentialy steal from you.

2

greentea OP wrote

Ahhh I see. Thanks a lot for the clarification. I think I have people who could do that for me.

2

celebratedrecluse wrote

I highly recommend also keeping receipts of everything, write your own and keep any atm deposit reciepts, etc. If they try to steal from you, they'll definitely get away with it, but you'll catch on more quickly if you keep fastidious records and it'll set your mind at ease.

2

greentea OP wrote

Ahhh I see. Thanks a lot for the clarification. I think I have people who could do that for me.

1