Re:Britain being forced to go cashless 'against its will'
by daenz on Wednesday March 30, 2022 @07:49PM
(#30862228)
>Both parties must report as income the value of the goods and services received in the exchange. [0]
My understanding of it is the good/service you receive is considered income at the fair market value, regardless of what you traded for it. I suppose if you gave a good/service away to "purchase" something as a business expense, you could deduct the value of your good/service on your taxes. But IANACPA
My understanding of it is the good/service you receive is considered income at the fair market value, regardless of what you traded for it. I suppose if you gave a good/service away to "purchase" something as a business expense, you could deduct the value of your good/service on your taxes. But IANACPA
0. https://www.irs.gov/newsroom/four-things-you-should-know-if-...