Bartering and Paying Taxes

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   susanafeposted 14 years ago

   Bartering, as defined by the IRS, doesn't seem to have any limits on it. If friends exchange goods or services, the IRS expects taxes to be paid. There is nothing in the IRS code that distinguishes bartering between businesses and bartering between individuals.  Both are taxable.  How is someone's private life automatically a business trying to turn a profit?  How is it that helping someone is taxable?  Isn't what is done for family or friends private?

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      Ron Montgomeryposted 14 years agoin reply to this

      The tax code is as confusing as it is unfair, but too many special interests lobby successfully for their interests to get anything done about it.
      
      Are you sure there are no dollar limits involved?  Wages for instance have to be over 600.00 per year before they have to be reported.  If you do a quick job for someone and earn 500.00 it is essentially tax free.  I doubt the IRS would prosecute you for trading a lamp to your cousin for a coffee table.  If you want to swap yachts however..........

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   Mishaposted 14 years ago

   All your property and the whole life belongs to the government. Get used to it.

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      sandra rinckposted 14 years agoin reply to this

      errr... I knew I shouldn't have looked in here.  Anything with IRS and Government in it just makes me angry.  I will never get used to being used.

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   sandra rinckposted 14 years ago

   I thought it was 800.00 did something change... wait of course, it's always changing and they never let us know until afterwords.  I hate the government.

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      Ron Montgomeryposted 14 years agoin reply to this

      I've never heard a figure different than 600, but I may be behind the times.  I   M  OLD

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         Mishaposted 14 years agoin reply to this

         Correction to my previous post: All your property in excess of $600.00...

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            sandra rinckposted 14 years agoin reply to this

            Serious?  So they could tax me on my dog house?

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   Mishaposted 14 years ago

   Why not? It's a luxury item, dogs are not a necessity

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      Ron Montgomeryposted 14 years agoin reply to this

      So why do we keep TK?

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         Uninvited Writerposted 14 years agoin reply to this

         

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   sandra rinckposted 14 years ago

   I just checked, you have to file if you make over $400.00, that's even worse.    I hate the government.
   
   http://www.irs.gov/individuals/article/ … 23,00.html

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      Ron Montgomeryposted 14 years agoin reply to this

      OH CRAP!

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      Mishaposted 14 years agoin reply to this

      hate is not productive

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         sandra rinckposted 14 years agoin reply to this

         Yes it is... it makes me feel better to publicize my disdain for the government.

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            Mishaposted 14 years agoin reply to this

            Can't argue with My Goddess. But will respectfully disagree

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   Mishaposted 14 years ago

   Guess his time did not come yet... Chances are you go together...

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      Ron Montgomeryposted 14 years agoin reply to this

      No way, no how, no where

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   susanafeposted 14 years ago

   The only limits I found are for "Barter Exchanges" where people join and trade between members.  Those three exceptions are:   "exchanges through a barter exchange having fewer than 100 transactions during the year,
   exempt foreign persons as defined in Regulations section 1.6045-1(g)(1) and exchanges involving property or services with a fair market value of less than $1.00."  If you sign up for a Barter Exchange you have to give them your social otherwise you get 28% withholding on all transactions.

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