As all of you fellow barter fanatics know, being taxed on barter transactions is unavoidable if you want to stay on the right side of the prison door. So with that in mind I think it’s worth while to mention that there is definitely a positive side to reporting all your trades: Including your trades in all your books makes your financial statements look better! In these times with great deals on loans, but so few people who qualify, keep in mind that every trade you make shows up on your P&L statement and makes you look that much more attractive to lenders. If you belong to a barter exchange you will definitely need to include your exchange account on your balance sheet as well. In the same way that inflated barter prices can hurt you on tax day, it can help you on the day you close your new lower home or business loan. Additionally if you are looking forward to a loan you need in the future, or you want to start working on selling your business, it’s never too late to start bartering to improve your financials.
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