Question
I need to know how to do your taxes if you get paid cash. I’m not sure how to pay taxes if paid in cash — how do I go about reporting my cash earnings?
Answer
Regarding how to do your taxes if you get paid in cash, you must report all income from a business or side job, regardless of how you were paid. This includes:
- Cash
- Credit
- Debt
- Paypal
- Barter
Here’s how to pay taxes if paid in cash if you received more than $10,000 in cash in one transaction or two or more related transactions: report it to the IRS using Form 8300.
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