What is barter?
What is barter? Barter is the exchange of goods or services for other goods or services; in this context, for Vadimus Law legal services.
Is barter legal? Yes, barter is legal. Under certain circumstances, you may incur tax responsibilities and/or be able to deduct from your taxes the fair market value of legal services as expenses. You can begin to look into the tax responsibilities which may arise from bartering at the Internal Revenue Service web site.
Will you barter with me? That will depend on your specific circumstances, including what goods or services you are offering, what the fair market value is of what you are offering in trade, and your financial circumstances.
What are my services worth? As matter of practical economics, political principle, and social justice, I will value your services at no less than $25/hour, which is one current estimate for the minimum living wage for one (1) adult and (1) child in the Commonwealth of Massachusetts. If the fair market value of your services is more than $25/hour, we will barter at the full fair market value of your services. Any Fee Agreement which includes barter will define the value of your services in writing. A sample (your Addendum may be different) of the Vadimus Law L.L.C. Barter Addendum is here.
What are my goods worth? I will value your goods at their full fair market value.
What is "fair market value"? Fair market value is what your goods and/or services would cost if sold to a neutral third party.
Do I have to be poor to barter goods or services? Absolutely not. Barter is suitable for any potential client who may have barterable assets or skills, but lacks or seeks to preserve liquid assets and/or income by bartering as a contribution to their legal expenses.
Can I pay for all of your legal services with barter? Under most circumstances, this will not be possible. Normally, you will be responsible for paying the major cash expenses of your case (e.g. constable fees, filing fees, stenographer fees, etc.) and for a minimum of 25% of your incurred hourly fees. This is to account for the cash responsibilities incurred by Vadimus Law in the process of handling your case.