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    Ryfree's Avatar
    Ryfree Posts: 1, Reputation: 1
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    #1

    Feb 23, 2012, 01:29 PM
    Checks made out to cash
    I am a Small contractor. I do 15- 20,000 per year. I recently did work for a much cheaper rate to help someone out for cash. They paid me with a check made to cash.If I cash this check do I have to claim it on my taxes?
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    Feb 23, 2012, 04:16 PM
    Yes. Why would you think income would not get reported? You have to endorse that check to cash it or deposit it and that shows ownership. If you want to try to under the table you could but it may not be worth the chance.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #3

    Feb 23, 2012, 06:06 PM
    Actually, if you are only making $20,000 per year, I wouldn't expect that you would have to pay any income tax. And if you are married, filing jointly, particularly if you have minor children, including that income in your return (which you are by law required to do) might actually increase your refund.
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