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Author Topic: Legal aspects of bartering; consult the The Barter Network  (Read 1343 times)
caveden
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February 08, 2011, 08:27:32 AM
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Hello,

Some guy I don't know sent me this video on youtube: http://www.youtube.com/watch?v=U4-D0AVVPKw

It basically talks about how this barter network progressed after the meltdown in 2008. But what called my attention is the last part of it, where the news anchor says that The Barter Network provides legal advice, and even IRS forms, for those willing to work with bartering.

Somebody interested in running a legal bitcoin business in US may try to contact them. As bitcoin is not official money, I suppose the same laws that applies to bartering applies to bitcoins.

If you happen to do it, consider compiling a basic "instruction-guide" for others to follow and post here in the forum. Wink

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Stephen Gornick
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February 08, 2011, 09:14:55 AM
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The Barter Network provides legal advice, and even IRS forms, for those willing to work with bartering.

Quote
A barter exchange or barter club is any person or organization with members or clients that contract with each other (or with the barter exchange) to jointly trade or barter property or services. The term does not include arrangements that provide solely for the informal exchange of similar services on a noncommercial basis.

Quote
The Internet has provided a medium for new growth in the bartering exchange industry. This growth prompts the following reminder: Barter exchanges are required to file Form 1099-B for all transactions unless certain exceptions are met
.
  http://www.irs.gov/taxtopics/tc420.html

Related:
  http://bitcointalk.org/index.php?topic=2794.0
  http://bitcointalk.org/index.php?topic=2484.msg33597#msg33597


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