Debbie Lombardi, president, Barter Business Unlimited, received the International Reciprocal Trade Association’s (IRTA) “Legends Of Barter Award” this past weekend at the barter industry association’s 34th Annual International Convention in Las Vegas, NV. “I’ve been a barter industry professional for over 30 years now and I am still challenged each day by the changing business […]
New 1099-B Requirements From IRS
Under new provisions that are to take effect as of January 2011, the IRS has announced that Form 1099-B, Proceeds from Broker and Barter Exchange Transactions, will now show the cost basis of stock sold or exchanged during the year. Under previous reporting rules, brokerages were required only to report sales prices of commodities, leaving […]
A Bit About the Under-discussed Tax Advantages of Barter
I found this on a blog, and will link to the original article, but the author points to the zero-liability advantage of using barter for legitimate business expenses. This is one of the hot points for me and barter. I love this one. The article is spun specifically for Bartercard in Australia, but it is […]
Barter and the FairTax
The FairTax is making somewhat a resurgence in political steam lately, as evidenced by this video that recently popped up on YouTube. The video explains the tax implications of barter under the FairTax, which end up being identitical to the implications of barter under normal circumstances.
You Can’t Fool the Government All the Time
In San Francisco, a former publisher was sentenced to five months in prison in a tax fraud case. The publisher had failed to report barter related transactions, even though those transactions were being reported to the IRS… Green failed to report at least $400,000 in income, including income from bartering - an exchange of goods […]
