Our local Orthodontist (my kids both have braces) offered to barter photography services for Ortho; however, we did not agree on a specific amount, he simply said to send him the invoice (I'm sure it's just to keep his books in order).
I released 5 images to him which will be used on his website.
What is a 'resonable' fee for this? My business is child/family photography so this is not a typical offering for me.
I hope the IRS does not monitor FM. Barter is taxable and is reported on your 1040 under misc. income. Some states also have specific provision for barter transactions.
Makes you want to be more patriotic doesn't it. I think breathing may soon be taxed as well.
However, the fact that barter is taxable tells you something about how to price it.
If you don't want come out on the net negative end if you are taxed for the services you receive, then your services rendered must be of equal commercial value. At least you have to charge that way.
Spyglass wrote:
A friendly thought from an old man..........
I hope the IRS does not monitor FM. Barter is taxable and is reported on your 1040 under misc. income. Some states also have specific provision for barter transactions.
Makes you want to be more patriotic doesn't it. I think breathing may soon be taxed as well.
@ The IRS monitoring FM.