With the economy in shamble, it seems like no one has any extra money for anything outside the basic necessities these days.  Regular household maintenance is getting placed on hold or people elected to DIY (Do It Yourself).  Although there is nothing wrong with DIY, the fact is some people are simply better at doing some things than others.  Everyone has one or two skills where they excel at.  As a result, bartering is gradually gaining momentum.  What is barter?  Barter is a type of trade in which goods and/or services are exchanged instead of actual money.  Bartering is especially popular for places where currency is unstable and during tough economic times.

The first step to bartering is to figure out what you are good at and how much your skills are worth.  You don’t want make sure the trade is fair and it is not a one-sided trade.  The best people to exchange goods/and or services are your family and friends.  Check with them to see whether any of them is looking for work done that corresponds to your own skill sets.

These days, you can also list your skills for trade online.  Here are a couple sites that is gaining popularity.
Craigslist
Trade A Favor
Joe Barter
SwapThing

On the last note, IRS requires you to keep track of all the transactions in case they ask you to report it.  However, not everything needs to
documented/submitted.  This applies mostly to exchanges that would have replaced your regular income.  E.g. if you work as a carpenter as your full time job, and you decided to exchange carpenter work for an old car, then the old car will have to reported to IRS since it replaces your regular income.  When in doubt, check your tax advisor to determine whether a trade should be reported or not.  Better yet, barter with your tax advisor this tax season!