At 04:07 PM 1/23/02 -0800, Vicki Brown wrote: >I _really_ hate to break this to you and your friend, but the IRS would like >to see its cut of the value of that Perl Whirl cruise. The IRS taxes >compensation that has value - a computer or car you win; a computer your >company "gives" you (to keep) as part of your job; excess group term life >insurance... a cruise trip.
The same is true of stock as compensation. Worse still, if you accept stock from a company that isn't publically traded you may not have any way of selling it, or fairly valuating it. However there will be a valuation, and a 1099 and you will be taxed on that just as though it were cash. Which means that accepting stock for work done will cost you cash, bottom line. Marty Website Creation Made SIMPL(tm) http://face2interface.com/Home/Demo.shtml Complementary Color Picker http://face2interface.com/WebSafe
