Sport Bikes banner

1 - 20 of 37 Posts

·
Registered
Joined
·
3,101 Posts
Discussion Starter · #1 ·
Does anyone in here participate in the so-called Underground Economy? Basically what this is trade or exchange of goods and services by either barter or straight cash. A couple of people I know do engineering work on the side or under the table.. I've known people who were good at fixing cars doing it for far less than what shops charge, for cash. Most of this is income they don't report. This is apparently becoming more popular as taxes become more crushing and people have access to mediums that allow them to network with each other. It sounds like a good deal to me. I've been thinking a lot about my skills and how I can participate in this economy.
 

·
Registered
Joined
·
615 Posts
I do a little drafting for friends of mine but, only friends. Nothing big just electrical one lines and plots.
 

·
Resident Freak
Joined
·
1,637 Posts
I'm having my floors refinished by a guy working "off of the clock", so to speak... so yeah, I guess I participate in the underground economy -
 

·
what R you lookin' at?
Joined
·
5,313 Posts
barter is the oldest form of trade, why is it underground......not mainstream but underground??

my parents used to belong to a barter group back in the early 90's when we had a photo store.......never really worked out, participants charged more then actually cash value, where my parents were pretty up ft.
 

·
Registered
Joined
·
3,101 Posts
Discussion Starter · #5 ·
RACER X said:
barter is the oldest form of trade, why is it underground......not mainstream but underground??

my parents used to belong to a barter group back in the early 90's when we had a photo store.......never really worked out, participants charged more then actually cash value, where my parents were pretty up ft.

The IRS is probably not going to chase a bunch of people trading their junk, what they do go after is professionals doing services for each other, say a dentist who does work on the teeth of a mechanic who fixes his car. That's what they don't like.
 

·
Head Rooster
Joined
·
3,438 Posts
I've done computer work for people. $50 per hour at the shop or just plain $50 for me. Not like they have too hard a decision to make.
 

·
Registered
Joined
·
1,027 Posts
I've babysat, cleaned houses, whatever it takes- okay well not WHATEVER IT TAKES... Anyway, the government is good about taking your money but when you are a single mom because your ex beat you then divorced you, well options are slim... you do what you have to do.
 

·
Industrial superstar
Joined
·
722 Posts
yeh I've done alot of dif cash work and side jobs. knowing how to turn a wrench can be very helpful sometimes.
 

·
I own license2ill
Joined
·
5,679 Posts
I paint bikes after hours at the shop all the time. Just depends on if I like the person or not. Most people get the normal charge and a paper trail. Friends "what bike I did not paint there bike".
 

·
Registered
Joined
·
73 Posts
Kawisixer01 said:
yeh I've done alot of dif cash work and side jobs. knowing how to turn a wrench can be very helpful sometimes.

i hear that, there is a nice little network at my job, of people that do things, or have connections to get them done...

one of my co-workers is getting a new roof on his house for 5K less from another guy, no permits, and he doesnt have the 8-24wk waiting time..
 

·
old member
Joined
·
13,079 Posts
I traded a personal trainer tutoring for his kid for training sessions at the gym. Neither one of us had extra cash so we traded hours. I lost weight and his kid passed 8th grade. :)

I've also received a "cash discount" on several occasions. I don't know where the cash went exactly, but I got the work done with some sort of receipt.
 

·
Registered
Joined
·
252 Posts
Underground Econ...

I have traded and will still trade on a regular basis my expert services. I am in the IT Field 25 Years, MCSD, MCSE, MCP, PMP, CISP, MCT and finally ofcourse I hold a PHD. At times I traded services like network monitoring for office space, I have traded Network Deployment for a Custom Paint Job. I traded, 300 hours of consulting services including project Management for a 1998 M3 BMW.

Yes, I love the underground Economy, I am still open to trades, they don't happen often and one must be careful not to get taken advantage of however it's a good system.

Most consultant would have charged 150 hours my client got even a greater savings because I only charged him 50 an hour so he saved lot's of money for the same quality work. :cheers
 

·
Red Dragons
Joined
·
2,887 Posts
I've heard of some report that was explaining that the tax money lost on the "underground economy" was in the trillions,that is why many people are supporting a flat tax of 23% on all purchases,and doing away with income tax.
 

·
Registered
Joined
·
252 Posts
Yep!

bugeyed said:
The IRS is probably not going to chase a bunch of people trading their junk, what they do go after is professionals doing services for each other, say a dentist who does work on the teeth of a mechanic who fixes his car. That's what they don't like.
Yep! They do not like when you cut them off the loop, have to be careful with the IRS and make sure that you do not put a value on the service being traded, if not you could be taxed on the earnings.
 

·
Registered
Joined
·
252 Posts
Flat Tax

DEMIAN1970 said:
I've heard of some report that was explaining that the tax money lost on the "underground economy" was in the trillions,that is why many people are supporting a flat tax of 23% on all purchases,and doing away with income tax.
Unfortunally goverment will find a way to screw with that simple concept, can trust them.
 

·
Just puttin' along
Joined
·
562 Posts
CyberBiker said:
I have traded and will still trade on a regular basis my expert services. I am in the IT Field 25 Years, MCSD, MCSE, MCP, PMP, CISP, MCT and finally ofcourse I hold a PHD. At times I traded services like network monitoring for office space, I have traded Network Deployment for a Custom Paint Job. I traded, 300 hours of consulting services including project Management for a 1998 M3 BMW.

Yes, I love the underground Economy, I am still open to trades, they don't happen often and one must be careful not to get taken advantage of however it's a good system.

Most consultant would have charged 150 hours my client got even a greater savings because I only charged him 50 an hour so he saved lot's of money for the same quality work. :cheers
You have been in the IT field since you were 13?
 

·
Registered
Joined
·
252 Posts
ASharpMind said:
Sounds a little illegal to me... LOL

:cheers Trade Beer for Sex :cheers
 

·
Registered
Joined
·
1,027 Posts
red_devil1469 said:
You have been in the IT field since you were 13?
Yeah actually he has. He built his first computer right around then.

:) I have a smart man!! :)
 
1 - 20 of 37 Posts
Top