Use the barter system with a friend. I have a friend that sews and I don't. She loves my homemade soup and bread. I love her sewing. So, we trade soup and bread for sewing talents. We end up both happy campers.
By joesgirl
Ask a faux finisher, Interior Decorator, upholsterer or seamstress to trade letter writing (to thank their current clients) for a training seminar. You can learn from the pros while helping them to grow their business.
I am interested in finding a network of individuals who trade their services for the Professional Organizing and moving services I offer. Services such as Hair, nails, skin, teeth, electrical, plumbing...
Although paying taxes on bartered items is technically true, I really doubt your would be audited and fined for trading soup for sewn items. I'm not a tax expert by any means but I really wouldn't worry about it. The only way they know about a barter is if one of you report it on your tax return.
You could also consider those gifts to each other for which you can give up to 10,000 dollars per person without them owing tax on it.
If you traded equity on a house for a cadillac or something like that or things worth a lot of money it might apply. I've always considered it for business people, not trading a dozen eggs for a dozen apples. The IRS has bigger fish to fry.
be careful with this. you're supposed to collect, pay and report taxes on goods and services traded as if you paid money for them. it could be considered tax evasion and you could be audited and fined.
Login using the form on the top of the page to post feedback (if you are a registered user). If you have not yet registered, click here to do so. It's FREE!.
