As a cash business, you must record every transaction. You will use those records to report your business’s income. You file taxes the same way as a non-cash business but note that you must file Form 8300 if you receive more than $10,000 in cash in a single transaction or in related transactions.[i] At the very least, you will need to file an annual income tax return.[ii] This would be a good question to ask your CPA.