Would be appreciated
This is the hub: http://hubpages.com/hub/Jobs-that-Pay-U … Your-Needs
Hi Brie,there is one big problem with your concept. The person paying you with barter will more than likely (if they are smart) put a value on what they gave you for the purpose of offsetting their own tax liability. If that's the case to legally do that they will have to if audited prove who they paid it to with some form of paper trail proof. If that happens then you will still be liable for the monetary tax value for what was given to you in that barter for the work performed. So now you are left owing taxes on something that gave you no actual money to work with to go towards those taxes.
I too thought that there might be some tax liability on this type of transaction. But I have just now scoured and scoured my 100+-page 1040 tax instruction booklet from last year and couldn't find reference to that. I know that some of these things change from year to year, and so I wondered whether perhaps that had changed. BenB, would you please give a 1040 line item or something, so I can go back and reread (yet again )?
I'm no tax expert,but i do know that once a business person were to put a monetary value on it to claim it on their taxes as wages paid that it technically would be no different than money. That's only if they claimed it in that manner though. If they never claimed it on their taxes then you would obviously never be at risk for the tax on it as wages.
I meant to say that ..in the instances that I know of they don't claim it and I have known several people who have lived this way. None of them (the employers I mean) claimed it. I think that is rare.
Unfortunately, according to the IRS, bartering must be reported as income.
http://www.irs.gov/businesses/small/art … 13,00.html
Bartering is an exchange of property or services. You must include in your income, at the time received, the fair market value of property or services you receive in bartering. For additional information, Refer to Tax Topic 420 - Bartering Income and Barter Exchanges
Topic 420 from IRS
http://www.irs.gov/taxtopics/tc420.html
Bartering occurs when you exchange goods or services without exchanging money. An example of bartering is a plumber doing repair work for a dentist in exchange for dental services. The fair market value of goods and services received in exchange for goods or services you provide must be included in income in the year received.
If you barter without reporting it as income, you may be guilty of tax evasion.
The words "barter" and "trade" immediately come to mind. Maybe "off the grid" would work too.
I don't think "off the grid" would work but barter and trade might.
"How to screw the man" would work. Or "How to screw your fellow citizen" fits just as well. Maybe, "All for one except for the me-for-myself-taking part." Or, you could go broader in scope and go with "How to undermine the rule of law and erode society."
Something like: Barter your way to financial freedom--Jobs that you might have overlooked.
the emphasis seems, to me, to be on how a person can take a job and barter for part of the money, providing a win-win situation for employer and employee.
Yes, technically, the article itself is mainly encouraging barter, but the mention income and gifts aren't including any conversation about reporting the income.
I'm a huge believer in less taxes, not more, but, given how huge my tax burden is, I am not a fan of people finding ways of end-running their share so that I have to cover theirs. I get that people are going to do it; I just don't care much for it.
Thanks picarpe, I'll think about that and see what key words might work...it just doesn't sound as sexy as "under the table" or "off the books" to me.
Well, you just keep paying your taxes to those big banks and feel good about yourself!
I'm not sure there is an appropriate words that could convey the proper message for the contents of your hub. Then again, any State or Federal agency who manages to come across your hub is going to view or scrutinize your life, with a fine tooth comb.
I'd be very careful. Just a thought.
Sorry I couldn't be much help.
There is nothing illegal about getting room and board for compensation...and last I heard that is not taxable. I think it's the smart way to go considering we are going the way of England with our tax rates.
OK, how about this title?:
Live-in Jobs that keep your tax liability at a minimum!
I fail to see why some think Brie's hub is wrong or somehow avoiding taxes. Bartering was around long, long before money.
There are many jobs that give you a live in home as part of your pay. Many hired farm jobs get a place to stay, in the old west it was expected even.
In rural areas food people grow are used as barter tools, as are a persons services. Nothing at all wrong with any of that. It's just being smart.
Thanks Bill, but actually I am trying to help people avoid taxes
That said, you do have to be smart about it...no one wants to end up in club fed..oh wait I have a hub about that too!
"My Retirement Plans" LOL
Seriously, thanks
This is what I honestly think people would look up and get you the most traffic:
Rent-free Jobs that Reduce Tax Liability
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