8/25 Tax gurus, got a question. If I provide my expertise that is worth
$10,000 to a friend, and my friend provides me expertise that
is also worth $10,000 (for example, I teach her computer, and she
teaches me how to play the piano), is that technically taxable?
Can I just waive it somehow? How can I get into trouble if I do
not report it? Thanks.
\_ no bills, thus no income. And in any event, you're allowed to
give someone $10,000 in cash per year without them or you having
to pay a gift tax. -jor
\_ you have provided services to each other. technically it is
taxable. you can get in trouble since we're going to report you!
\_ TECHNICALLY, you can give each other special discount and
reduce the service to $1 and INS will not go after you.
\_ Thinking of pimping yermom? She ain't worth that much,
and my cocaine is worth more than 10K, thank you.
\_ I think this is considered fraudulent, and the IRS may
go after you. INS probably will not.
\_ IRS, INS, U.S. Government, what's the difference. They
are all slow, incompetent, and they all want to fuck
with you.
\_ You received no income. What goes on between you and a friend is
taxable. Did you actually bill each other $10k each? That'd be
silly. I fix my parent's computers. My mom makes me dinner and
sometimes buys lunch. I don't declare that and you don't have to
either. If anything, you'll get red flagged and audited just so
they can figure out wtf you think you're doing.
\_ Charge each other $9999.99 since any gift under $10K doesn't need
to be reported. |