The Barter System!!!

[patrick]

Five years ago I stared my EC business and my accountant set up my books.He told me that he needed my help at his house.I said "sure whatta need done".He said"Install my attic fan,hang my monster chandlier with hundreds of crystal parts,install my aladdin light lift in my hot smelly attic,hang more lighting fixtures, add outlets" then he said lets do the barter system,while you are sweating you *** off in my attic I'll be in the A/C doing your taxes and we will call it even.Of course I wrote a bill for the work I did and he wrote a bill for his services.I didn't like the idea then and don't like it now,I was in trouble with my taxes back then because for the first seven months the accountant I used was a meathead and didn't file salestax so I switched to this guy.I have been asked more than once to do the barter system.It seems like a loser to me.Just wanted some input on this.

 

[electricmanscott]

Re: The Barter System!!!

Here is my input short and sweet, no money no workey.

 

[hbiss]

Re: The Barter System!!!

Yeah, it's a loser because one of you is not getting paid what they normally would charge and I'll bet it's you.

Next time just tell him to give you his bill for services rendered and pay it.

-Hal

 

[charlie b]

Re: The Barter System!!!

Originally posted by patrick: . . . then he said lets do the barter system. . . .

English translation: "This is going to be better for him than for you."

In addition, it means that he won't have to pay taxes on the income he would have received from your having to pay for his services. An accountant should know better.

 

[growler]

Re: The Barter System!!!

If I were you I would switch accountants again. If this guy thinks this is an even trade to beat the IRS, he should go back to school. His services were a legitimate business expense ( a tax write off), you services were a personal perk ( his home, taxable ). Beware of barter clubs, goods and services received can be taxed. The only barter system that's ever worked is when we trade pictures of dead presidents ( otherwise useless paper ).

 

[charlie]

Re: The Barter System!!!

. . . I wrote a bill for the work I did and he wrote a bill for his services.

As distasteful as that is, there is nothing wrong with it as far as the gummit (spelling from Pogo and intentional) is concerned. You have indeed provided a service and rendered a bill; so has the accountant to you. Both bills are work that is taxed, gummit is happy.

With all that said, I am sure the following story applies to you. Take a stick and rub both ends in a pile of manurer. Now, it doesn't matter which end you have in your hands, you still have the **itty end of the stick.

 

[charlie b]

Re: The Barter System!!!

Originally posted by charliespelling from Pogo and intentional)

Charlie, you are showing your age by mentioning that name, and I am showing mine by recognizing it.

 

[charlie]

Re: The Barter System!!!

Yep!

 

[electricmanscott]

Re: The Barter System!!!

I'll show mine now. What the heck is pogo?

 

[apauling]

Re: The Barter System!!!

I guess there are some benefits of being "old". Pogo is proof that when we were young, wisdom was free for the taking, dispensed daily in the papers.

paul, i go pogo

 

[coppertreeelectric]

Re: The Barter System!!!

I do business for several people that do business for me. We all agree on avoiding the barter system. Cash keeps it even. Nobody likes a debt hanging over their head. A discount maybe but the work I do in 4hrs is worth much more then when it takes my accountant 2hrs to do our taxes.

SKILLED LABOR + BUSINESS OWNER = PROFESSIONAL = PROFESSIONAL RATES, Bottom line!

 

[mdshunk]

Re: The Barter System!!!

I had a real world application of the barter system today, and it worked in my favor. The owner of the diner I was having lunch in offered my lunch for free if I'd change an exit sign lamp (and he had the new lamp). Sounded fair, so I ordered dessert too. I feel sort of silly about it, especially since I have been reading this thread the last day or so. I don't think I'll paint "Will work for food" on my trucks any time soon, though.

[ July 01, 2005, 06:59 PM: Message edited by: mdshunk ]

 

[apauling]

Re: The Barter System!!!

i take it they didn't have lobster for lunch menu.

 

[mdshunk]

Re: The Barter System!!!

Originally posted by apauling:
i take it they didn't have lobster for lunch menu.

Nope. I had a chicken patty, if you're interested. One exit sign lamp install costs one chicken patty sandwich and a dish of tappioca pudding. That proves how goofy the barter system can be.

 

[coppertreeelectric]

Re: The Barter System!!!

I agree it works great for little things, one hand washes the other. Its just when you get up into the thousands that things can get weird.

 

[charlie b]

Re: The Barter System!!!

Originally posted by electricmanscott: I'll show mine now. What the heck is pogo?

Pogo was a daily, political, cartoon strip, the Doonesbury of its day, that day being the late 40's through early 70's. The two most well known sayings of that strip ("most well known" meaning that they are the only ones I know ) are,
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• <font size="2" face="Verdana, Helvetica, sans-serif">We have met the enemy and he is us.</font>

<font size="2" face="Verdana, Helvetica, sans-serif">For more info, if you dare, go here.

 

[charlie]

Re: The Barter System!!!

I am beginning to regret that I am old enough to remember following Pogo before the strip was discontinued, my (our) age is really showing. This is probably not a good time to tell you that I used to follow the Joe Palooka strip also.