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Cash Checks Chaos
Episode 176
đź’Ą Business owners writing checks to “Cash”? Let’s talk about the chaos that follows.Â
Because what you think saves hassle actually invites headaches (and maybe an IRS fan club).
Here’s the breakdown:
💸 No shortcuts → Writing “Cash” doesn’t erase 1099 obligations. The IRS still wants its slice.
🤯 Chaos guaranteed → Try explaining “mystery cash” when applying for a loan. Spoiler: banks don’t buy shenanigans.
🧾 Bookkeepers aren’t magicians → If you hand us “Cash,” don’t expect it to vanish. It ends up in Owner Distribution. Period.
👉 Sometimes the right thing costs more upfront—but it costs way less than the wrong thing later.
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Published on 2Â days, 23Â hours ago