User Panel
User Panel
User Panel
|
Posted: 9/9/2010 9:19:24 PM EDT
[#1]
Try posting in the legal forum...
|
|
|
|
Posted: 9/9/2010 9:20:31 PM EDT
[#2]
Sure.
IRS will still come sniffing at some point. Being paid in services/credit is still income. |
|
|
|
Posted: 9/9/2010 9:22:47 PM EDT
[#3]
Quoted:
Sure. IRS will still come sniffing at some point. Being paid in services/credit is still income. So you would pay taxes on market value of goods? |
|
|
|
Posted: 9/9/2010 9:26:29 PM EDT
[#4]
Quoted:
Quoted:
Sure. IRS will still come sniffing at some point. Being paid in services/credit is still income. So you would pay taxes on market value of goods? Don't know. Seems like a issue that would need to be researched....market value or value that the employer looses. "Dealer cost" would seem more analogous to paying employees cash vie trying to claim standard mark up rates. |
|
|
|
Posted: 9/9/2010 9:29:31 PM EDT
[#5]
Quoted:
Quoted:
Quoted:
Sure. IRS will still come sniffing at some point. Being paid in services/credit is still income. So you would pay taxes on market value of goods? Don't know. Seems like a issue that would need to be researched....market value or value that the employer looses. "Dealer cost" would seem more analogous to paying employees cash vie trying to claim standard mark up rates. That's good enough. Thanks. |
|
|
|
Posted: 9/9/2010 9:31:47 PM EDT
[#6]
I would think yes. As long as taxes, SS, medicare, unemployment insurance, etc. is paid on the earnings and receipts/sales tax are kept for the goods. No different than spending your whole paycheck on Friday. Sounds like an unnecessary CF though. I don't think I would go there were it my business.
|
|
|
|
Posted: 9/9/2010 9:48:56 PM EDT
[#7]
The above answers are correct on the tax implications. He would need to pay tax on the amount of store credit given him. Income is defined very broadly for federal taxes.
|
|
|
Win a FREE Membership!
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.
