Forum Discussion
phil-t
May 03, 2021Explorer
valhalla360 wrote:rk911 wrote:
the last time we looked into hosting...and it was a while...illinois considered the "free" campsite as taxable income. best to check.
It's not just Illinois. Federal and pretty much any state with an income tax consider it income.
Look up Barter rules with the IRS. You are supposed to estimate the value of the goods and services received and record that as income (minus any allowable deductions).
LOL, Governments absolutely hate bartering. They get no $$$$. And "estimating value of a benefit given in exchange for labor", leaves a big wide open window for that estimation. I don't know what the current USA estimates are on loss of taxes to barter but I bet it's a BIG number.
About RV Tips & Tricks
Looking for advice before your next adventure? Look no further.25,111 PostsLatest Activity: Feb 19, 2025