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Barter should be
viewed as you would your cash income. There are no inherent tax
advantages or disadvantages just because you use a barter trade
exchange. Barter is a marketing tool, not a tax tool. Generally
speaking, as with cash income, barter purchases which are business
related, are deductible and conversely, barter purchases which are
made for personal use are not deductible. Naturally, your barter
income (sales) and business deductions (purchases) should be
accounted for within your tax return. All City and State Taxes are
always payable in cash to the seller. |