Discussion in 'Economics' started by SWINGTRADER77, Dec 27, 2010.

  1. I got a mates dad- and he said " forget trading son"- get a taxi licence, shipping the bankers around London/NYC-and all " cash work" so not much tax to pay
  2. with high gas drivers barely making a living. it's costing transportation industrly billions in extra cost for every penny gas prices rise.

  3. I disagree, I have never met a poor cabbie- they all plead poverty but are savy
  4. gas prices are irrivelant as most cabbies self employed- so can off set the losses
  5. Bob111


    not anymore. they all accept credit cards and must maintain all the books. rules are extremely strict and penalties are severe..not to mention the cost of medallion itself..prepare yourself and those "mates" for quite a bit of shock-

  6. how can the government count cash? after all " cash is king"
  7. the guy who owns the cab company may be rich but not the drivers. who are employees....cabbies just raised their cab fares now. because of higher gas prices.

  8. i disagreee-always ways around that use " red diesel"
  9. Bob111


    dude...i didn't know much about taxis..but looks like you and your mates know about this shit even less than i'm...there is a counter in each cab. like i said-now each cab accept credit cards. you can can count as much as 50% of payments via CC.
    and on top of that-do you really like to play those games with IRS? specially in these times? gvt will cease your medallion in a fucking blink,if you try to fuck with them on taxes..when you pick up a passenger-how do you know,if this guy is not working for TLC?

    here,study this site,read philly stats in link above(i specially like the result in example with negative cash flow)

    anyway-good luck with this idea. make sure you have 700+K for a medallion.
  10. I am english- I do not deal with american authoities- no rhym or reason to do so,-I was purely advising - " suck it babes"
    #10     Dec 27, 2010