Barter, depending on how it is done, can be taxable (depends on what is bartered and whether it relates to your line of work).
For example, John is a Dentist who needs new cabinets. Jim is a cabinet-maker who needs expensive dental work. John and Jim work out an agreement that Jim builds the cabinets for John and John does Jim's dental work in kind. No money changed hands, but both benefitted. This is taxable to the IRS.
>>Barter, depending on how it is done, can be taxable<<
Yes, I suspected someone may bring that up.
I simply don’t agree with the concept. Jesus asked to see a coin and asked who’s picture was on it and said to render to Ceasar what is Ceasar’s.
Imagine your Dentist/cabinet maker scenario where the participants deal in no actual greenbacks at all.
How does one that operates on barter render anything to ceasar since he is not involved?
And he is NOT involved in barter, that is for sure.
There are lots of fundamentally bad laws. I ignore them when possible.
One might consider not telling them about minor little favors like this.
But if John the Dentist and Jim the Cabinet Maker don’t tell anyone, who is going to know that the trade took place?