Saturday, March 21, 2009

Bartering makes a comeback

Bartering makes a comeback
Another good trend initiated through the so called "financial crisis", at least according to makes a comeback. BTW: Barter in the US is taxable! If you barter for goods and/or services, you are taxed not more or less than if it were a cash transaction. In other words, it is handled the same way as a cash transaction regarding taxation. If you bartered for a profit, you pay the appropriate tax, if you generated a loss in the transaction, you have a loss. Other countries do not have the reporting requirement that the U.S. does concerning proceeds from barter transactions.

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