1st off, why barter if your going to keep account on it? who in their right mind WOULD turn in "barter" in your bookeeping?????
I dunno, maybe because it's the
legal thing to do. May not like the law, but it's the way it is until someone higher up has it changed.
I have worked to hard for my business to have it get into problems over something like non-payment of taxes.
..i did a Mexican restaurant here, required materials which they paid for, labor and lettering i took as eating it up))))) nice to take someone to dinner and only pay a tip))))))
Same here. There is a Mexican restaurant here that I go to all the time. I embroidered their polo shirts and their hip aprons. The whole order was put on a gift card that I used at their establishment. I wouldn't have done it if I didn't eat there all the time. I got something out of it, they got something out of it, we both felt like it was a win/win (others might disagree), however, I still accounted for it on the books.
Nothing wrong with bartering. I would do what I did again in a heartbeat. Now, you might want to check on this as their might be a min. on how much a transaction has to be in order to be obligated to report it. I never bothered as the one time I bartered it was around 1k. 20 bucks might be something different.
ddarlak said:
no, quite the opposite, on both counts....
The first part....maybe, that depends on what each person thinks as to the value that they are getting.
As to everything being in writing....yes that does need to happen. Too high of a chance of getting screwed not to. Yes, it for sure leaves a paper trail about the bartering and lessens your ability to sneak it by the taxman, but doing it that way also opens you up to being taken advantage of. May not have happened, may not happen for awhile, but eventually it catches up.
The little savings that you might get by doing it that way isn't worth it (in my mind) to what happens when it's all found out.
