[Galactic]

Just "play poker" down at the casino and win consistently and pay your taxes.

[Benjamin Check]

Any cash business is fine. Just don't be greedy. Avoid the well known traps like barbershops and afterhours spots.

[SecondAttempt]

Stand-up comedian... just don't talk about weed.

[They]

I've thought about the air conditioning business as being pretty "cool". May come in handy for people who want discrete repairs or consultations from "cool" people.

[theroadwarrior]

First off I completely agree with the post that said better to start a business that has a chance of bringing in real revenue in addition to money you want to “add” to it. Gives you a head start on turning legit.


In fact if you have or get a job on the side pay your car, rent, utilities with that and use your cash for food, fun, etc. you can avoid a few possible felonies down the road and skip the fake business.


That said you can create a real business that you would run at least part time or do a no show in a semi-safe manner. Putting monies into any business (no show or not) that did not come from that business is a no no. A no show is no more illegal or risky imo just takes some common sense.

First off how much do you plan on “making”. You need a business that would take in cash in denominations that you are currently receiving from doing whatever it is that you do. For instance if you get paid in 50s and 100s it would be hard to do a laundramat because people usually use the change machine ($1,$5,$10) or their own quarters. Depending on how your bank does transactions this could be a problem. Some banks or automated tellers list the denominations and number of bills in deposits. Boa for example.

Unless you live in a sales tax free state you want it to be a strictly service business or else you will have to add sales tax to all your “imaginary” transactions. Depending your location this could be substantial and unnecessary loss. It will increase your bookkeeping requirements.


Also service business have less if not zero inventory records that could possibly trip you up. It is not easy to prove fake inventory because you do not have receipts. Without receipts you can’t get the tax benefits.

I like the idea of computer repair. Low start up costs. Ability to write off a bad ass computer and some cool gear. Most computer repairs are not so expensive that cash would not be a common source of payment.
Unless you sell parts too there would be no inventory to keep track of.

Mobile detailing would allow you to write off some of your vehicle as you said you wanted to do. If audited you would have to show that receipts for cleaning supplies that matched the number of cars needed to have been washed for the revenue you are claiming. If you are transporting water to the sites you could get tripped up by water records not matching. You could always buy a ton of chemicals and sell them on ebay or craigslist for a little loss, pocket the cash, to cover yourself here.

A laundry would be an ok idea especially if it is taking in money. Problem with a laundry besides the expense is that they do not usually take in large bills which could be a problem. Also water and power records can be obtained to easily show revenue does not match the water and power consumption that would have been used. Now if you have a grow op in the back you would be all set. Also laundry locations all sell detergent, etc. so again you would have to buy it and sell it and pocket the cash.

Poker (gambling) is a possibility but really you need to live in an area where you could spread your gaming around. Hard if not in vegas or ac. Basically you buy chips at different tables repeatedly and then cash out after playing a little. Ask for a check or electronic transfer to your bank. Claim profit + pay taxes. This one does throw up a lot of red flags imo.

Private car service (set rate not fare rate) is probably my favorite especially if you want the Denali or Yukon. Depending on requirements where you live it could be hard to get into and insurance is a factor. Good cash business and as long as you fill up your tank enough to match your trips your all set. Your mileage usage will have to be in correct ratio with gas and trips made. Maybe you have to gas your friends cars to get the receipts to make it look kosher. Has a good deal of benefits especially if you want to write off a vehicle.
No real way for them to prove otherwise.

Used furniture antiques etc. can be a good idea but only in a sales tax free location and really could not be a no show. You would have to sell and buy inventory and after the sale inflate the sales price to match revenue. Unless you love antiques and want to begin a collection and you just buy them from yourself.

Campground is a good idea but not low start up by any means.


I love the greenhouse, tree farm type idea if you have some land and again live in an no sales tax state. It would be easy to fudge inventory and receipts because you are growing things yourself. You could even claim you make all your own compost and avoid chemical costs. Write off some grow related gear on top of it.


Imo keep to a service business that requires the least amount of inventory if any and the least amount of bookkeeping. Especially if you live in a sales tax state. The more lies you tell and books you cook the harder it gets to keep things from unraveling.

[vertigo0007]

Originally Posted by scruffy

Best way to be legit for the taxman is to form an LLC or other corporation. After a couple years, a very small one-person business will attract attention. Look up "hobby vs. business"- they want to avoid people claiming a hobby as a business and getting deductions. Incorporating and showing revenue are good ways to cross this hurdle. Only costs a couple hundred to do an LLC.

I do consulting work and have a custom clothing company. I fit in the niche of making t-shirts and other apparel at lower cost than embroidery, and without the minimums of screen printing. Very easy to set up, and I'm actually busier than I'd like to be with it. I only do outside sales, so I can claim mileage when I visit clients. I also claim one room in my house and a few other things. I set up at events with my table and make custom shirts on the spot. Mostly cash, I do take CC's with the phone though- handy for dealing with businesses too.

See a need, fill a need! Even if you only do it for "play", do it well.

And there you have it. Consulting, llc

[scruffy]

Consulting is great because you can charge a pretty high rate, especially if you're saving the client a ton of money. I usually shoot for 25% of the annual savings as a fee. I have a poster on my office wall that says "Consulting: If you're not part of the solution, there's good money to be made in prolonging the problem". Lots of stuff to deduct if you're smart about it.

Also, you'd best have some notoriety in the field and know your stuff cold, or your consulting career will be very short. I really only do it because I enjoy it, I'm really picky about taking on new clients.

[BlackNight]

Originally Posted by theroadwarrior;5691170
[B

Campground[/b] is a good idea but not low start up by any means.

If this is not a terribly ignorant query, would you expand on this a little?

sincere thanks

[Double F]

love the ideas. mobile detailing sounds interesting too, most customers would probably pay in 50s or 100s.

key for me is NO INVENTORY and NO BOOK KEEPING. something like mobile detailing works perfect for that.

i really like the limo idea because i already drive a shitload of miles and spend thousands on gas, it would let me deduct some huge expenses like the car payment, insurance, and gas. really want to do this except the licensing fees for california TCP runs 1-3k a year not including the crazy insurance you have to pay for, cant just put liability when you gotta ferry other people around. and i have criminal record and bad license so they wouldnt approve, really sucks i cant pursue this idea.

laundrymat = gotta pay rent, equipment, maintenance, im cool.

i would be depositing mostly 20s, 50s, and 100s, not 1s or 5s.

[Easy7]

I like the idea of farming. Tobacco is still a good cash crop. Ginseng farming can raise some dough, over many many years. There are virtually countless medicinal plants. Tinctures sell for a high dollar. Mushroom farming is becoming popular as well. Sadly, it takes money to earn money. There are also some unregulated plant derivitives, worth hundreds of thousands of dollars a key!