Posted by kyhayman on August 06, 2009 at 19:45:11 from (75.105.0.38):
In Reply to: O/T CASH posted by farmer101IL on August 06, 2009 at 17:08:11:
Im sure glad I kept good records and reports when the IRS came to see me two years ago. They wanted to perform a 'research audit' as I was one of 50,000 Americans chosen for this honor. Every transaction, every dollar had to be accounted for. If I spent less than the national average on anything from food, to clothes, to pencils my kid used in school.
While in criminal court you have the assumption of innocent until proven guilty in a tax audit you have to defend every deduction or deviation from the norm. It took a year, cost me right at $10,000 for bank fees, accountants, etc for them to determine when its all said, done, and refigured that I didnt owe anything.
Any cash I'd used had to be accounted for. Period. If I failed to religiously use the bank before, I dont now. If I get paid it, it gets deposited, if I pay for it, it gets paid with a check or a business credit card.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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