H O W B A R T E R W O R K S
Barter simply means to trade for something without using money. Remember in school, you traded marbles, lunches, baseball cards? Today you can trade CD's, cell phones, products, services and more. That's barter, no money changes hands, yet you got what you needed as did the other party. The
IRS still wants their share and taxes barter income.
Today the same thing can be done through a Barter Exchange. They serve as a third party helping you
find people who want what you have, matching you with those who have what you want, it's simple. Your account is managed by the "Exchange Banc" using the debit and credit system with Barter Dollars (credits) as currency.
When you buy goods or services, your account is debited and when you sell, your account is credited. You always know your balance by keeping your own records.
What are the immediate benefits of Membership?
* Buy equipment * Pay vendors * Collect Delinquent Receivables * Customers Provided
* Credit Lines * Network Mixers * Free checking account * We buy goods/services
* Pay For Repairs * Pay for services * Buy inventory * Increase suppliers
You can start buying-selling the next day
The IRS recognizes barter, treating profits as taxable income and allows tax deductions for business releated expenses.
(IRS.gov/taxtopics/tc420) Also see IRS Pub 525. The Exchange provides 1099-B at year end.