Cash kills wealth

http://www.investigativeproject.org/158/honey-trade-said-to-provide-funds-and-cover-to-bin-laden

 

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Well, I would say "many" businesses are in serious, "perp walk" trouble. Any employer who has employees and does not pay them under a normal pay system, (employer paying half SS, unemployment taxes, payroll withholding, etc), is simply asking for the door to be knocked down and being taken straight to jail without passing Go. The IRS and state tax authorities always have this as their #1 enforcement issue. Income taxes and other taxes can be put on payment plans and the like. There is absolutely no grace period or any wiggle room for employment taxes. This is because the government knows if they do not get their cut up front, most of the time the people owing the taxes will not have the money at some future point. Having up front withholding is absolutely CRITICAL for the system to function, therefor there is legally no ability for the IRS to waive anything, what you describe is an immediate jailable offense.

Now, if you are describing businesses treating employees as independent contractors, that is a different matter. They can try it, but there are series of tests you have to jump through to prove it. However, once an employee is ruled an employee, the employer risks serious and immediate jail time if they do not pay them through a traditional payroll system.

 

I am with you clear up to the direct deposit portion. I have done it Fatima, many times. I have run payroll for multiple companies. I am simply saying paying by check more expensive for most companies than direct deposit is.

Like I said, rules, red tape, etc are killing businesses and are a serious burden to this nation. I am just disagreeing on the cost of direct deposit versus issuing paper checks.

 

how much do you think your money is going to be worth after they pay all the customers from a major bank failing?

 

how much do you think your money is going to be worth after they pay all the customers from a major bank failing?

Read more: http://www.cointalk.com/t206831-5/#ixzz1wIPPnSAc
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It would be worth what it's worth. Otherwise it would be pointless for a bank to pay off customers with worthless money.

 

We are talking about Mom and Pop type businesses here 5, 10, 15 or so employees. Any savings of direct deposit or producing checks is miniscule one way or the other. Economies of scale in this situation just are not available to this group of employers. Even if direct deposit was less expensive is it really worth changing the way they are currently dealing with payroll. They have a system - it works. Why force them to focus their attention to changing it when they should be focusing on other material aspects of their business that have a real impact on profitablity?

 

I would simply say that processing direct deposit versus checks for most payroll services would save $30 per payroll period. Since its the exact same actions to do either, it doesn't change any work at all except for method of payment.

You are correct business people need to concentrate on business. I was simply refuting others who said doing direct deposit was more expensive than issuing checks. For most small employers its actually the opposite.

 

You are offering an opinion based on personal anecdote and I personally don't care what you say about yourself. My experience is as one who runs a business and paying the bills is quite different than this and I will flatly tell you that every accounting house that I have ever dealt with will add-on costs for direct deposit service because the banks don't like to deal with these kinds of volumes. This is my personal anecdote.

The point being, as I said way back, it's got nothing to do with the original point made which was what is the disadvantage of a bank requiring direct deposit. This is it. Amazingly you seem to never actually address that.

 

So my "personal anecdote" of being a CPA and running multiple payrolls for companies doesn't trump your "personal anecdote" of one running a single business. You are frickin amazing sometimes.

I don't give a crud about your other point. You said something, I said you were wrong, but your one tiny data point overrides my two decades of experience as a CPA. Whatever.

 

Let it go, Chris. No matter what anyone says it will be construed as a "personal anecdote" to Fatima, even though thats what opinion as well as fact are based upon. Its easier to sit back and watch her make a complete fool of herself than to try to argue a point.
Guy

 

Its not a her.

 

Then it needs to change it's profile picture.

 

Do we know? You know, due to the constrictions of the English language, its only polite to let us know Fatima if we should phrase our responses in the masculine or feminine tense.

I always used to say sir until someone pointed out the obvious to me that Fatima is a feminine name. If it is not Fatima and you are male I apologize, its only for English language reasons I care to know your sex. If you prefer, you can lie, I simply wish to know what words to use to respond to you and be polite.

 

But just remember, gender is a personal anecdote.

 

I'm flattered you boys are so infatuated with me, and only via my words, that you look at my profile and fantasize over the possibilities. I've had such and effect on you guys that you even make posts on Coin Talk about me. Since y'all don't get the reference to my name and photo relative to bullion investing, then I'll leave it a mystery for now.

Feel free to address me as you please. It has no bearing on what I have to say as I'm here to talk about bullion investing.

 

Ummm no. I don't like Detroit. I don't like men, and I'm partial to women of my tribe, especially ones that like Shabbos Candles, and Shomer D'Mitzvot Ha Moshe Rabbanu

 

Let's not bring Detroit into this.

 

Just looked up Quickbooks Enhanced Payroll Service for schedule of fees. Direct deposit of employee paychecks is an add-on fee of $1.45 per paycheck. Not only that but it requires a 45 day lead time notification of any changes. Therefore if an employee wants to direct their pay to a new account - it will take up to 5 weeks for such a change to occur.

 

Well that is just a horrible deal then. ADP, Paychex, and the like basically have identical fees regardless of method, but you incur higher shipping charges for checks versus DD advises.

I have no experience with quickbooks, so didn't know their fee schedule was so bad. Most charge just cents per DD, with many services just charging one fee for the entier file instead of a per DD line.

 

Fantasize? I don't think so. TBH I had never looked at your profile so I had no idea there was even a picture there.

I was only asking out of common courtesy, since English is gender specific. Saying "it" is very rude in my opinion, so again I would simply prefer to know which, (sir or ma'am), you prefer to not be rude. That's all.