The Depression is here again, so that means that anything can be used as currency: Leaves, rocks, even pieces of paper with funny designs printed on them! At least, that's what some communities are proposing as a way to keep business local and offer discounts to customers hurting from the recent recession. So what's stopping you from creating your own cash flow, brah?
The IRS gets its share. When someone pays for goods or services with local money, the income to the business is taxable, says Tom Ochsenschlager of the American Institute of Certified Public Accountants. "It's not a way to avoid income taxes, or we'd all be paying in Detroit dollars," he says.
Goddamnit. Just when you thought of a way to circumvent April 15th, the man keeps fucking you over.
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