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by bloppe 27 days ago
> If the work is performed for $1 or $5000 the government doesn't get a say in that

What if you're getting paid in landscaping?

1 comments

On a corporate level it doesn't really matter as you're only taxed on your profits/losses. If we do a service swap ultimately it's just adding a revenue item with a matching loss, and these are infact quantified.

As an individual interestingly it does matter because services received for free are considered taxable income (but businesses are not taxed on their income).

You are just making stuff up, this isn't remotely close to how tax law works.
The first paragraph is generally correct. The second is not.

Business are taxed on their net income but many jurisdictions tax businesses on their gross revenue as well (look up GRT and GET).

There are corporate taxes on revenue in some situations