Got a mid-sized truck? Want a Boxster?

http://edition.cnn.com/2010/LIVING/07/22/teen.barter.cell.porsche/index.html?eref=rss_latest&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+Most+Recent%29

Wait til the IRS catches up with him.

Another case of the red paperclip trick.

I read that story on yahoo news and he already is looking for a Escalade because of the cost of up-keep.

don't you mean classic Bronco?

I dont think the IRS can do anything to him. Of course it is the IRS...

porksboy wrote: I dont think the IRS can do anything to him. Of course it is the IRS...

Yeah, they'll think of something to spoil the fun...they always do.

well, if he registered the last couple of vehicles, he did pay taxes on them.

He keeps reinvesting it though.. so I am not sure that capital gains applies

Mikey52_1 wrote:

porksboy wrote: I dont think the IRS can do anything to him. Of course it is the IRS...

Yeah, they'll think of something to spoil the fun...they always do.

Its been a long time ago (maybe mid 1980s) , but the IRS claimed they would tax people who use the barter system. It was big at the time and was on all the talk shows. You need plumbing work done and have a good garden, pay with veggies. Carpentry skills bartered for car repair. They could not stand the thought of people getting their needs taken care of without them getting their cut.

I remember that. are they still on that kick?

With all of it going on via CL these days..... I wonder.

well, his last couple of purchases would be easy to track and assign a value to

taxes, barter system, sounds like the book I'm reading on the Whiskey rebellion. Hamilton was not a fan of the little man, nor I'm sure are the IRS.