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Thursday, February 4, 2010

Your Barter Connections

Bartering has been around for centuries and it has proven time and time again an excellent way of trading or swapping services in exchange for unwanted goods or other services such as fixing cars or cleaning homes.  Typically you can barter just about anything of value or use to another that you no longer need or have use for.  I have noticed that bartering has been picking up some steam lately with bartering groups on the internet as well as companies that have a certain level of bartering incorporated in their businesses.  Our newspapers in our state has ads in the classifieds that offer people to trade things and or give away for free.

Family and friends are a great way to start out bartering with and as you build your bartering connections you will begin to see it expand.  Co-workers are another avenue that can be utilized and the company that you work for might find some interest in bartering on a larger scale with other companies in general.  Your own community and neighbors gives you another extention creating bridges that can go above and beyond a major networking system based on bartering alone.

Facebook is also another wonderful way to start a barter group with friends because the friends part of facebook is endless and literally infinite.  I can just see the barter effect take off on facebook alone.  So, with that said I put the bug in the ears of others on my FB and I have gotten a few interested.  I have done my first trade with a co-worker, I created a craft item in exchange for something she created and in doing this I am very excited for what the future will hold when it comes to bartering.  And with this in mind, bartering will be the trend and widely spread given the nature and condition of our nations economy.  


Gen-IL Homesteader said...

I went to the link....I'm amazed that bartering has become such a 'technical' thing! That is so neat!

Another added benefit of bartering is that nobody has to give the govt a piece of the pie!!! Woo-Hoo!

Lilifee said...

You are talking about an important subject - the barter connections! In a time where everybody has to save money the way of bartering is one of the most efficient way to save money. In addition it's green. I know the website www.barterquest.com. It's a lot of fun to trade with others!

Aloha2U said...

Unfortunately, there are tax laws pertaining to barter & trade in the United States. There's two possible types of trade or barter known as "retail trade exchange" and "corporate barter".

The law states that appropriate state, local, and federal taxes must be paid on either type of transaction. Corporate barter only applies to multi-million dollar companies. Retail trade exchange is say, you have an artist trading a painting to a furniture store for a $1000 dining room table. For each party involved, the government views that trade as two seperate and distinct $1000 cash transactions.

(1) The artist "sells" that painting for a $1000 and
(2) "buys" a dining room table for $1000 (vice versa for the store owner). As a "sale", that $1000 is viewed as income (income taxes apply). As a "buy", that $1000 is viewed as a retail purchase (sales taxes apply).

In other words, both parties owe state and federal income taxes on $1000 worth of income and state and local sales taxes on $1000 worth of retail purchases.

It may be slightly different regarding how and what type of items are bartered or traded as well. But the IRS has it's hands in every nook and cranny it can get into which to me is downright extortion.

matt said...

Unfortunately, it is true that the government does have it's hands in everything we do including barter.

Taxes are no reason to be discouraged about barter. Why would you not want to sell your product or service just because you have to pay income tax? The same is true for barter. Barter provides more sales and new customers in addition to providing valuable barter money that can be used to pay for business expenses and promotion.

I have used barter to pay for advertising, web site design, printing, accommodations, airfare, and many more business expenses. in addition, I have used barter to buy personal items such as lasik surgery, basement finishing, eating out, movies, plays, professional sports tickets and many more items.

I have even started my own barter exchange in Hawaii at http://www.alohabarter.com and I am happy to help people achieve more than they ever thought possible with barter.

Aloha2U said...

Matt, how wonderful! No one's discouraged here just getting the info out and that's what the prepper networks are all about. Thanks for your comment.

Mike said...

Ive started a Network for Hawaii Island but its easily used on all the islands. Weve been up and running for 3 months and have 22 local businesses and 40000 in our network nationwide. Its easy chech it out

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