Re: Bartered services, tax?

"Charlie Sellers" <[EMAIL PROTECTED]> wrote in message
news:[EMAIL PROTECTED]
>
>
> I am looking for advice from fellow marketing business owners on
> bartering services and taxation. I own a small marketing company in
> California and in the past year have traded my services .
---snip---

If you add an item you bought through barter, it must have a value assigned
to it for you to sell it in order to not pay taxes on the total selling
price. Say you get a bicycle in exchange for barter. You sell the bicycle,
and put the full $100 dollars in your sales column. You must pay taxes on
the full amount unless you show a cost column. Your quarterly tax report
will ask for this information, which is the same info you will use on your
1040 Schedule C at the end of the year.

Please do not consider this note legal or accounting advice; it is merely
sharing a point of view.

Wayne
www.rcsailcars.com