... not that I know anybody who actually pays taxes on this anyway, but it would be nice to decriminalize the process.
The NJ has a story today on how people are turning to bartered exchanges in tough times, which includes this segment:
Want change I can believe in?
Stop ripping off private individuals who exchange goods for which both parties have already paid.
The NJ has a story today on how people are turning to bartered exchanges in tough times, which includes this segment:
Bartering can be less expensive than buying because there are few overhead costs for rent or staff. However, not all costs are eliminated. The IRS considers barter dollars as identical to real currency for tax reporting, and barterers must obtain a special form, the 1099-B.
Want change I can believe in?
Stop ripping off private individuals who exchange goods for which both parties have already paid.
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But something interesting....we have sold a few things on Craigs List (my husband does the work; I can't deal with it), and he has noticed that more and more people are wanting to "trade", let's say, a motorcycle for a car, or vice-versa. I think we'll see more of that.
Only politicians could be dumb enough to pass massive tax increases in a killer recession... but people will adapt.