Bartering 101

Bartering is an ancient custom, used for centuries as standard business practice at a time when currency was not available or accepted. It fell by the wayside for many years, however recently there has been renewed interest in this time-honored tradition, and many bartering networks are popping up on the internet and in communities across the country these days. One of the biggest selling points seems to be the belief that since there is no money exchanged, there is no income tax applied to the transaction. But how does bartering work? How do you keep track? And is it truly income tax free?

Bartering 101

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