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Bench Before and After

Discussion in 'Random Ramblings' started by Nyboy, Sep 12, 2017.

  1. Sep 13, 2017
    bobm

    bobm Garden Addicted

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    NOPE ... in this case NYboy can NOT claim any tax deduction since he can't prove that he actually paid for it.
     
    Nyboy likes this.
  2. Sep 13, 2017
    seedcorn

    seedcorn Garden Master

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    No, but he doesn't have to claim the value as income since no $$ exchanged hands. Same same
     
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  3. Sep 13, 2017
    Carol Dee

    Carol Dee Garden Master

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    Wow that turned out really beautiful. Your refinisher did a great job. Love the double welt around the edge of the upholstery.
    did he think the wood might be cherry or mahogany??
     
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  4. Sep 13, 2017
    ninnymary

    ninnymary Garden Master

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    For your information he paid for the bench on craigslist. As long as he has a record of that he can.

    Mary
     
  5. Sep 14, 2017
    bobm

    bobm Garden Addicted

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    Yes, NYboy can deduct the amount that he actually paid as a business expense, however he can NOT deduct the barter amount. Unless, NYboy puts a vulue on his portion of the barter, then he has to report that barter value of the work done by someone else as income, then he can indeed claim the bartered amount as a business expence. In the end the barter amount itself only becomes a wash. :rolleyes:
     
  6. Sep 14, 2017
    Nyboy

    Nyboy Garden Master

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    Carol mahogany makes 4 pieces of mahogany in the room. Reminds me @Ridgerunner did you ever get around to reading book I sent you ?
     
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  7. Sep 14, 2017
    Ridgerunner

    Ridgerunner Garden Master

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    Not yet Alex, I'm finishing up the series I was on. Two more books to go. It's next on my list.
     
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  8. Sep 15, 2017 at 3:46 PM
    murphysranch

    murphysranch Garden Addicted

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    Hubby just bartered the other day. Tractor work at our new place for tiling a bathroom over the tub. The fella did a magnificent job getting rid of all the old plants and a two stumps. Bartering is great!
     
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  9. Sep 18, 2017 at 12:52 AM
    baymule

    baymule Garden Master

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    Beautiful bench, the wood is gorgeous.
     
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