Bartering - how much do you do?

[Athar I]

Barter is taxable income.

You massage them for a service, they need to report it and pay tax on it.

They give you a service in return, you need to report it and pay tax on that income.

Not reporting it? You are in violation of the law and subject to appropriate penalties.

Do I report others who barter? No.

Do I barter? No.

I feel that bartering is an ethical slippery slope that can unnecessarily complicate business relationships. I prefer to pay cash because it keeps things clean and provides for simple problem resolution should anything go awry with a transaction. Besides, my work is worth too much to be bartered for haircuts and whatnot.

 

[Catherine H]

This has been very interesting.

How does one approach another? I can't imagine asking my dentist to exchange massage for teeth cleaning!

Jason, that last sentence sure was cocky and condesending to those who do barter. I am sure they are worth just as much as you.

 

[SurfingLisa]

I feel that bartering is an ethical slippery slope that can unnecessarily complicate business relationships. I prefer to pay cash because it keeps things clean and provides for simple problem resolution should anything go awry with a transaction.

having had negative experience with bartering, i have to agree with the above portion of jason's statement. i have cut out all bartering with the exception of one woman who is more like a mother to me than anything else. she would cook for me whether i massaged her or not. and i would work on her whether she cooked for me or not.

for those of you who do this on a successful basis, it sounds like you're doing great!

 

[Redneck_Girl325]

Besides, my work is worth too much to be bartered for haircuts and whatnot.

My hair appointment (wash, cut, dry) is around $75-$85. My bodywork session for an hour is $75. The worth is the same and I get what I need to look "hip".

Acupuncture - I certainly don't look at that as being worth less than my work either.

Your comment is.... interesting.

 

[Dani Gurl]

My friend who is in the barter group said everyone has to pay a tax on each "transaction". She says she seems to be losing money on it, not because of taxes but because of the amount of bartering vs paying customers, so I defo won't be signing up.

And I'd just like to join in and say I'm not bartering for a bag of peanuts but for about $200 worth of hair services and bodywork at a time.

My work rocks the casbah, and I'll barter for a nice accountant and a great housecleaner.