For example, let’s assume that I, as the owner of a CPA firm, trade my services worth $1,000 to an office supply company for $1,000 of their product. I would not owe sales tax since CPA services are currently non-taxable. But the office supply company would pay sales tax on the full sales value of $1,000.
Like any good CPA, I need to add a disclaimer. Unfortunately, it is impossible to offer comprehensive tax info over the Internet, no matter how well-researched or written. And remember, I love my readers, but having me bookmarked on your computer doesn’t make you a client. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.