Do businesses have certain forms they file for bartering/trading services?

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Permalink Reply by rose on March 16, 2009 at 8:16pm

No cash is exchanged. Taxes are not involved.

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Permalink Reply by Pepe on March 16, 2009 at 9:06pm

I did not look into it.I just barter.I mean a bag of coffee here,eggs there,bicycle frame.....The bartering I do is low key ,and local.Works finr so far.

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Permalink Reply by Adam Hintz on March 18, 2009 at 2:45pm

I concur. No forms needed.

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Permalink Reply by Amy Rose on March 19, 2009 at 3:51pm

I forget all the details but taxable services are supposed to still pay state tax on the service, not on the item, an example might be if you mow someones lawn, which in NE lawn services are taxable services, then you still need to pay tax on the service. what i don't remember is how do you pay state tax on a service you are not charging for? plus how is anyone really going to find out anyway?????

I just remember being told this at a business workshop I went to a couple of years ago. I'm sure the state would fill us in if someone wanted to call and ask them........(ha ha ha ;)

i don't really know how the state would make the distinction between two friends helping each other out and two people bartering.......I think it is a VERY gray area!

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Permalink Reply by Tim Johnson on November 2, 2009 at 11:49am

With occasional garage sales I think you are exempt from reporting sales income so possibly the same goes for occasional bartars.

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