Bartering is a Time Honored Tradition | Miki's Hope

Bartering is a Time Honored Tradition

Friday, December 28, 2012


Bartering has been going on for a very long time in one form or another. The simplest definition of bartering which appears in many references I looked at is “To trade goods or services without the exchange of money.” Yes, I have bartered my bookkeeping services for services I needed that were preformed by others a couple of times. And I am about to do it again.

As you may have read in one of my other posts I recently left the job I had in NJ. Now I had to figure out how to write a resume—OOPS—for what ever reason I just could not get it formatted correctly—or I was just fighting myself—So after asking around to see if anyone I knew could write it up for me—I took myself on an internet search. There are virtually 100’s of listings!! I spotted a company that was located in the town I live in—I called the number. This woman definitely seemed to know what she was doing but was about to leave for a meeting so we agreed she should call me back later in the day.

Yes, she called me back. She is much more then a person who just re-writes resumes and writes cover letters. After she described all she does and can do for me--I asked with trepidation-how much. I was floored-----there was no way I could afford her services-although as I assured her I was sure those services were worth every penny. Suddenly there was silence on the phone—she suddenly said to me—“you are a bookkeeper, I happen to need a bookkeeper desperately-would you be willing to barter services”?


I will be meeting with this woman on Jan 5th to write up the details as to what each of us will do and how much each service is worth time wise. Both our problems solved!!

By the way, in case you did not know bartering is a taxable event—as a bookkeeper I feel I have to put this in here. I got this from Wikipedia -
“However the IRS now requires barter exchanges to be reported as per the Tax Equity and Fiscal Responsibility Act of 1982. Barter exchanges are considered taxable revenue by the IRS and must be reported on a 1099-B form. According to the IRS, "The fair market value of goods and services exchanged must be included in the income of both parties."[15]”



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13 comments :

Jennifer Williams said...

When I was a single mom and repaired computers, I always bartered my services for things my son needed, little league, sometimes even food. It was a nice way to make up for a lack of income.

Just Short said...

i didn't know that bartering was taxable. hmmm, very interesting. Can't wait to see what your resume looks like when she is done.

TerinAleah said...

I definitely didn't know that bartering was taxable!

Mom vs. the boys said...

so great, win-win all around. I don't think bartering is taxable in Canada but I did know it was in the US.

Mudpiesandtiaras said...

Bartering is definitely an art form! I wish more places still did it@

Kim Croisant said...

I hope this works out for you. I like to barter and have been doing it for a long time. My husband also does a lot of bartering in his line of business.
Again, good luck!!

Cheap Is The *New* Classy said...

Since bartering is taxable, that means that virtually everything we do is taxable. My daughter cleans the house in exchange for rides to friends' houses, etc.... Sheesh!

Having said that, I do love bartering, though!

Dawn

Tesa @ 2 Wired 2 Tired said...

Wow! That is so neat! I love stories like this where at the heart it's people helping people. Congrats on this, it sounds like a great partnership.

shelly said...

I didn't know bartering was taxable either. Sheesh. They'll soon be taxing us to use the bathroom. lol

Melissa Pezza said...

Very interesting. I didn't know bartering was taxable!

Melissa Tiffany said...

Figures the IRS would want to get their fingers into something with non-monetary value. Are they going to be taxing free posts we write for charity companies next? :)
I am so glad you guys were able to work something out with bartering! I think it's a lost art that ppl are going to have to get back into with the way the economy is now.
Tiffany

Mom Blog said...

Bartering is Always good! I wrote some posts for my dog trainer last year in return for a discount on my dog training sessions :)

Bobbie Anne

Melinda Dunne said...

I agree bartering is a great way to go! I also could use some help with a resume but don't know anyone that writes them without charging $100 for them.

 
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