Barter

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Barter is an exchange of goods or services without using actual or alternative forms of currency. Many people mistakenly believe that barter transactions are not subject to income or sales tax. It would be more accurate to say that because non-monetary transactions are less likely to create a paper trail, it can be difficult for tax authorities to detect barter transactions, and hence difficult to punish the participants for underreporting their income.

Casey Serin has employed barter a number of times, bartering his IT services for (a) office space and mentoring from his Local Rich Dad, and (b) chiropractic services.

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