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work with a guy who has a remodeling business

I work with a guy who has a remodeling business. to hide money from his wife (and probably the irs), I allow him to put his money in my check. if I make 1500 he pays himself 1500 and puts it in my check which makes it 3000 and he tells me to hold back 50 of his part for tax puposes, so I give him 1450. I want to know can I get in trouble? also should I be holding back more…is there a certain percentage I should require? we’re both self-employed. thanks

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Answer #1

This is a definite problem! You could get in a lot of trouble and possibly face jail time! If he wants to hide money from his wife, tell him to open his own “secret” bank account and she never has to know about it. It seems as if he is trying to avoid paying taxes. If this is true he could do a lot of jail time. Sam

Answer #2

Ya you can get in trouble. you should stop

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