Re: Taxes make me angry...
IRS regulation section 1.61-2(d)(1) "Compensation paid other than in cash--in general" Except as otherwise provided...if services are paid for in property, the fair market value of the property taken in payment must be included in income as compensation. If services are paid for in exchange for other services, the fair market value of such other services taken in payment must be included in income as compensation. If the services are rendered at a stipulated price, such price will be presumed to be the fair market value of the compensation received in the absence of evidence to the contrary.
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Since he won't pay you any cash you won't actually owe taxes ...
Quote: sounds nice, but you are incorrect. (one of the neat little things we learn in law school...)
quote: Where is the line on the 1099 for hunting & gathering rights?
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