{"id":7389,"date":"2010-02-15T04:35:47","date_gmt":"2010-02-15T09:35:47","guid":{"rendered":"http:\/\/horizonsmagazine.com\/blog\/?p=7389"},"modified":"2018-09-22T09:37:34","modified_gmt":"2018-09-22T14:37:34","slug":"things-to-keep-in-mind-as-you-prepare-your-tax-return","status":"publish","type":"post","link":"http:\/\/horizonsmagazine.com\/blog\/things-to-keep-in-mind-as-you-prepare-your-tax-return\/","title":{"rendered":"Keeping Your Dollar Karma Clean by Being Honest on Your Taxes"},"content":{"rendered":"

Cash is hard to come by these days. So it’s not unusual to see barter arrangements between taxpayers.\u00a0 You’ve probably even done a little of this yourself: No money actually changes hands, so it’s almost as if the transaction didn’t happen, right? Not exactly. The fair market value of goods and services that you receive in exchange for those you provide must be included as income on your tax return even though you don’t receive payment in a traditional way. If you’re not sure how to start bartering, consider a barter exchange.\u00a0 A barter exchange is an organization with members that contract with each other to jointly barter for credits. Since they are strictly regulated by the IRS<\/strong>, you’ll receive a form 1099-B from the exchange indicating the amount of income to be reported.<\/span>\u00a0 What are tax consequences of bartering?<\/strong> <\/a><\/p>\n

On the other hand, if the IRS<\/strong> finds out you’ve been doing work under the table, they will audit you so fast it will make your head spin.\u00a0 I know people who barter goods and services, and they don’t keep track of it.\u00a0 Many of these same people also work under the table, earning unreported income. I’m not judging their choice of what to do with their life, however, when they complain about income being slow and blaming it on the economy, I can’t let them get away with that.\u00a0 I have to remind them that<\/span> it’s all related<\/strong><\/a>,<\/strong> and that they play a part in attracting what they experience.\u00a0 If they are working under the table because they think Uncle Sam<\/strong> takes too big a cut, that is poverty consciousness and that is fearful thinking.\u00a0 If you are receiving disability income yet work several off the record jobs, you are holding yourself back from the greater good you could be attracting, if you didn’t have that lie hanging over your head.<\/span><\/p>\n

And it’s only a lie because the IRS<\/strong> has a rule against it, and you don’t want to mess with the IRS<\/strong>.\u00a0 Period.\u00a0 It’s much easier to upgrade your belief, and learn to be glad to comply, than it is to constantly be looking over your shoulder, dreading the consequences of being caught.\u00a0 With tax season coming up, keep your income\/dollar karma clean by being honest on your tax return. Don’t be creative, keep it simple. If you feel you must work under the table, consider the message you’re sending the Universe. You don’t want to vibrate there.<\/span><\/p>\n

In the 80’s, before I moved up to Melbourne, FL<\/strong> from Miami<\/strong>, I worked as an independent contractor for several attorneys, meaning they would give me 1099’s at the end of the year and I’d file my own taxes.\u00a0 A few years, some 1099’s came late and I didn’t want to take time to amend my return and refile, so I didn’t.\u00a0 That happened several years in a row.\u00a0 It wasn’t a giant amount, just a few thousand dollars.\u00a0 But by the time the IRS<\/strong> caught up with me years later, the penalties and interest had skyrocketed what I owed into such a big mess I had to call in my mom to help bail me out with a loan.\u00a0 And she read me the riot act.\u00a0 I was 30.\u00a0 It took me 7 years to pay her back.\u00a0 I was glad I got that lesson early.<\/span><\/p>\n

So now, when friends let me know they are working under the table and staying off the grid and being low profile – what is this? a sleuth drama? <\/em>– I tell them, clean up your act.<\/em>\u00a0 Begin paying into Social Security<\/strong> if you want to receive anything at retirement age. Many friends are finding that out now that they’ve worked off the books for so many years and have no savings. Start right now doing everything the right way.\u00a0 Know that without having to look over your shoulder and worry, you have just removed about 80% of your resistance regarding the topic of dollars and income, and the Universe will begin to abundantly deliver to you.<\/span><\/p>\n

You’re the only one holding back your good.\u00a0 The economy has nothing to do with it.\u00a0 Just you and how much resistance you have, consciously or unconsciously, to everything going on around you.\u00a0 Everything, because<\/span> it’s all related<\/a>.<\/p>\n

It’s just something to keep in mind.\u00a0 Here’s what Abraham-Hicks has to say on<\/span> Thriving In The New World Economy<\/a><\/p>\n

RELATED: Don\u2019t complain about the government if you don\u2019t vote and you hide income<\/a><\/p>\n

RELATED: Four Facts About Bartering from the IRS<\/a><\/p>\n

LEARN FREE: The Secret2Dollars.<\/a> No cost, no kidding. <\/span><\/span><\/p>\n

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