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To: Larry S. who wrote (39623)	5/16/2002 9:08:38 AM
From: BWAC	Respond to of 53068

How about cause or effect of the Tax Code? If I swap you some of my accounting work in exchange for (fill in a product of your occupation or service? For example Lawyer=Lease Contract work) then the IRS would call that Barter income to both of us. And they'd expect it to be shown as income, or revenue. Cost of revenue would be whatever each others service was worth. They'd like some Social Security, etc. tax on that too if we are self employed. So how would you account for these capacity swaps IF there was a real business purpose behind them? Maybe they should be highly disclosed. Remember the IRS is looking, btw.