العربية Arabic English English Español Espanol
Global Barter Corporation : The Best Choice in Barter
Dentist

Taxes

Barter transactions don’t really affect your taxes in a positive or negative way. The goods or services you sell are taxable in the year of the sale.

When the United States Congress passed the Tax Equity Fiscal Responsibility Act (TEFRA) in 1982, it specified that all trade revenue earned would be treated as income. Barter transactions are submitted with Form 1099-B, Proceeds from Broker and Barter Exchange Transactions. GBC issues each member a Form 1099-B with a summary of the value of all barter sales made during the year. This information is also provided to the IRS.

Don’t forget, some exchanges may be tax deductible. You may also deduct company related costs that you incurred to perform the work.

Please consult a CPA or tax professional to determine the best way to account for your trade exchanges. You may also view the examples provided in IRS Publication 525, Taxable and Nontaxable Income.

The following articles on the IRS website provide more info on taxes and barter:

NEXT: Membership Fees

Home | Overview | How It Works | Case Studies | Why GBC | Careers | Join | Blog | Site Map | Contact
© Global Barter Corporation. All Rights Reserved | Terms & Conditions | Privacy Policy | Disclaimer
U.S. Barter office locations in Atlanta Baltimore Washington DC Boca Raton  Boston Chicago Dallas Denver Houston Los Angeles Miami New York City Philadelphia Raleigh San Francisco Seattle