Some of you seem to believe that if you barter and no cash changes hands, you don't have to pay taxes. You're wrong. You still need to pay taxes on the transaction, even if you have no money. No matter what you do, you owe the government a slice. If you can't pay, then you better liquidate your assets to pay.
forbes.com
Other urls found in this thread:
en.wikipedia.org
twitter.com
OH SAY CAN YOU SEE.....
I gift my toilet shit, come get my toilet for tax invasion pigs
So how do you calculate the value of the thing you received? Obviously both parties would consider themselves to have traded the less valuable item for a more valuable one.
Because we're totally gonna tell em about every trade ever made lmao
The value is what it would have cost you to purchase it with money.
f 'em
gov can't tax what they don't know about, fuckhead.
I traded a broken toilet for a broken weed whacker. What's the tax?
see The broken items are of low monetary value, but not *no* monetary value.
Kek, how much of a kids' pocketmoney goes to the government?
>tax invasion
Why can't I trade pieces of the items to the government?
Simple hold the asset for 1 year. Problem solved. Objects bartered that are hold for 1 year are tax free. At least thats how it is in germany.
How do you calculate that? Could both parties claim that they would've sold their item for a dollar? Or does the IRS have to say something like "this item can never be worth more or less than X dollars?"
just dont tell them you bartered retards
>user, how many items have you traded this year?
>hurrr, 15 i think
>:^}
Can I pay my taxes with the scrap wood in my shed and a slightly used fridge?
If you try to stick your thumb in every pie it's only a matter of time before you start losing thumbs...
Fair market value (FMV) is a thing. Essentially, there is a subjective reasonable range that you must adhere to or you will get your ass raped with auditors.
this is a good point, if theyre saying my items are the same as fiat...
I cannot wait until you need to pay taxes on your WoW crafting materials.
No, you must pay in legal tender. If you don't have any, you must liquidate assets to acquire some. Those are the rules.
digital assets user, just wait for it
You also have to pay taxes on illegal sources of income, such as selling drugs.
kek. Literally every landfill owner is getting away with this. Calm down.
They already do this with crypto and NFTs. It will come sooner or later. Gladly you can take a loan on your crypto assets to avoid taxes.
if they can say my laptop, a non-fiat object, is equivalent to legal tender, they can accept a non-fiat object. im not going through extra steps, if they want the fiat that bad they can trade it
Who the fuck is stupid enough to report their bartering to the government anyway? It won't make a difference if it's legal or not.
Man I can't wait to donate my .50 caliber rounds to my local IRS employee. I'm sure they'd only want 30 percent, but I'll do my do diligience and donate at least tripple of that.
How the hell is it calculated? Is this some kind of price control? Is it illegal for me to consider an item more valuable than some particular amount of cash in hand?
again, only if you admit to it
oh im sure it will. but if i dont tell them i have it and my taxes look the same as every other year..
They're not saying its legal tender, they're saying its income.
How is this hard to understand? Government makes the rules, you obey. Doesn't matter if they pull values out of their ass
It's calculated by consulting the open market. It is not an exact science. And yes you will get busted if you over or under value something in a way that causes you to pay less taxes.
>"discard" object
>they pick it up and "discard" theirs
>pick it up
what barter?
income is the "legal tender" you get for selling your time, youre giving up some of your freedom for income. that shouldnt be taxed either, but i already own the item im trading. usury isnt legal either, im not going to abide by more than i have to
How do you consult the open market? Does the IRS have to put up your property for sale?
winner
This means all politicians owe massive amounts of taxes from all their dates with lobbyists.
Expect it's all a projection until a sale to USD is finalized. This is the only thing that has kept cryptokikes running.
They compare with similar property on the market. Like I said it's not an exact science, and you will get rekt if you try to play philosophical games with an auditor. You can't win.
Knowing America they're probably exempt, just like how Congress is exempt from insider trading.
>Obviously both parties would consider themselves to have traded the less valuable item for a more valuable one.
Hey retard. Claim to have lost on the transaction
im not going to play philosophics with an auditor, im playing them with you. i have a different game to play with them
s-stap goyim! This is highly illegal to outjew the IRS!
Protip: Found objects are taxed similar like gifts.
>again, only if you admit to it
unless you get audited by the irs.
>Government makes the rules, you obey.
Government makes evil rules, you fix the government.
That's the part we're on right now.
Oh and just so we're clear, I wouldn't even bat an eye at seeing someone like you on their knees in a ditch. You're an evil piece of shit and I hate your kind.
Well I just don't see how any of this is defensible beyond the "shut up and comply" bit, but anyway, it seems like a hell of a lot of work for an already short-staffed agency.
It's true. And say you barter your $100k tractor to your neighbor for the equivalent in farm equipment. You each owe $20k-$40k in income tax. Later you decide to swap back and each owe another $20k-$40k.
Lmao
iktf
This guy gets it
>most retarded in thread
They already are, and money found on the street is considered illegal no matter the amount. So if a bank robber ditch their money and you found it and kept it. You're just as responsible as the bank robbers apperantly.
oh its taxable? ok send me the bill lol ill wait
Because government only accepts dollaridoos their kike masters print as taxes, because this whole system is a gumiant scam meant to subjugate us regular people trough taxes and debt
If it's a trade of equivalent value then the income is 0
Any tax percent of 0 is 0
I believe this is also how gdp works