Mr. Kelly, the creator of Affordable Oil Tank Removal, Affordable Excavation, Affordable Dumpster Rental and now Affordable Sewer Line Repair explained his non-business philosophy a few years ago This was part of a testimony at a Fairfax County board hearing where he described how he doesn't own any business since he exchanges services instead of receiving money for his work. The video of the hearing from September 16, 2008 is currently available from the County by calling 703-324-5930, and hopefully can locate on youtube so even more people can benefit from enlightenment gained since a prior court order to relocate unlawful activities.
If you want to adhere to the strategy prescribed by Mr. Kelly, you should also plan to hire a good tax accountant to keep you out of trouble with the Internal Revenue Service. Here is what the IRS says on the subject: ""Bartering occurs when you exchange goods or services without exchanging money. The fair market value of goods and services received in exchange for goods or services you provide must be included in income in the year received. Generally, you report this income on Form 1040, Schedule C , Profit or Loss from Business. If you failed to report this income, correct your return by filing a Form 1040X. Refer to Topic 308 for Amended Return information. Barter exchanges are required to file Form 1099-B for all transactions unless certain exceptions are met. Refer to Barter Exchanges in Publication 525, Taxable and Nontaxable Income, and the instructions for Form 1099-B for additional information on this subject. Persons who do not contract a barter exchange but who trade services do not file Form 1099-B. However, they may be required to file Form 1099-MISC. If you are in a business or trade, you may be able to deduct certain costs you incurred to perform the work that was bartered. If you exchanged property or services through a barter exchange, you should receive a Form 1099-B , Proceeds From Broker and Barter Exchange Transactions.""
If after watching this video you choose this service exchange route, you should be confident in receiving the same integrity and judgement Affordable has given the Fairfax County community for years.
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