dave@utcsrgv.UUCP (Dave Sherman) (12/18/83)
A note of caution: the appeal of a "professional bartering exchange"
is largely pushed as being able to exchange work on a "tax-free" basis.
While much of this goes on and is simply not found by the tax authorities,
you should be aware that entering into arrangements to do professional
work for others in exchange for work they'll do for you may well constitute
tax evasion when (if) you don't report as income the value of the service
you receive in return. Getting involved with an organization whose sole
purpose is to facilitate these arrangements may be particularly dangerous,
since there may be records around when Revenue Canada or the IRS come asking
questions. And tax evasion is a criminal offense in both the U.S. and Canada.
Of course, if you're just looking for a way to get your services "wholesale"
and intend to report services paid for in kind as income, you have no worries
whatever.
Dave Sherman
The Law Society of Upper Canada
Toronto
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