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Wit is educated insolence
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Discussion Starter · #1 ·
Yesterday while getting my hair cut the lady and I were talking gardening. She advised she was not good at all a gardening and knowing about my gardens at our urban homestead asked if I would be willing to barter vegetables for haircuts....I immediately agreed.

This makes excellent sense for both of us since, for example. standard green peppers in my area are now $4.00 apiece and not of good quality at that and I exchange no cash but simply excess product for services.

I enjoy bartering and feel that this is the way we can help each other through these times. I am from now on going to offer, but not push bartering garden excess for services and see what happens.

Perhaps the underground economy is growing? Anyone else barter in this manner?

Regards
Froley
 

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Gone for Good
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Those green peppers are $2.69 each here!

I think one of the major things overlooked by many is the art of bartering for things we need. I trade off my extra items for things I need allthe time.

I think the people that work the swap meets & gunshows regularly will be far ahead of most people as shortages occur and unemployment rises. The ability to constantly sense the needs in the markets and somehow provide them is a mainly lost art.

Someday the trading posts of the frontier era will make a comeback and serve the needs of the local community.

Keep up the bartering for as many of your needs as possible. You save money and utilize your assets to the maximum.

Red
 

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Flying under the radar
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I love this idea! So glad you decided to throw the idea out there to see if she was interested. I would bet you will have many more who are interested. I would love to do something like this and will keep my eyes and ears open to see if I can work out something similar. :thumb:
 

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About a year ago I saw a story on the news about people who are beginning to barter as a way to deal with tough times. From what I remember, it had a positive spin to it, I think there was even some website that they promoted, maybe it was the for trade section on Craigslist.. I'm not sure. Anyway, toward the end of the story the reporter said something to the effect of, "Even though this is a great thing, the IRS probably considers it a business transaction so remember to report it on your taxes. They don't want to miss out on this action."

Yep. I see that happening. Anyway, I am not saying do one thing or the other. This thread just reminded me of that broadcast and I thought I'd share.

Here is a similar news story, but relating to businesses bartering with each other through IMS and ITEX, very interesting.


"While it may save cash, barter is not free. Every vendors proceeds are reported to the IRS as taxable income."

Edit:

From the IRS, with love:

http://www.irs.gov/businesses/small/article/0,,id=187920,00.html
 

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Registered
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Thanks for this post

About a year ago I saw a story on the news about people who are beginning to barter as a way to deal with tough times. From what I remember, it had a positive spin to it, I think there was even some website that they promoted, maybe it was the for trade section on Craigslist.. I'm not sure. Anyway, toward the end of the story the reporter said something to the effect of, "Even though this is a great thing, the IRS probably considers it a business transaction so remember to report it on your taxes. They don't want to miss out on this action."

Yep. I see that happening. Anyway, I am not saying do one thing or the other. This thread just reminded me of that broadcast and I thought I'd share.

Here is a similar news story, but relating to businesses bartering with each other through IMS and ITEX, very interesting.

YouTube- The New Age Of Bartering

"While it may save cash, barter is not free. Every vendors proceeds are reported to the IRS as taxable income."

Edit:

From the IRS, with love:

http://www.irs.gov/businesses/small/article/0,,id=187920,00.html
.gov won't take barter point for taxes. Stay away from formal barter exchanges. The taxes will kill you!
 

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Christian
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Ill tell you whats in short supply, good sweet corn, on the cob. Im freezing half of my crop this year for off season.
 

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Christian
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So how does one go about assessing or proving value on a barter exchange to even assess taxes?

Does this also mean I have to claim my garage sales as taxable income?
 

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"While it may save cash, barter is not free. Every vendors proceeds are reported to the IRS as taxable income."

Edit:

From the IRS, with love:

http://www.irs.gov/businesses/small/article/0,,id=187920,00.html
While it is debatable whether or not the IRS has the authority to tax you for non-government work at all barter is clearly not taxable. Currently the only argument that the IRS has for taxing us is that they are charging us rent for using their private currency (FRN and token coins). Simply stop using their private currency and they have no jurisdiction to tax you because they can not charge you rent for something you are not renting. Doing otherwise would be like paying a landlord rent for not living in their house.
 
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