As I sat with my accountant last week and watched him leaf through my 2011 financial transactions, I noticed that he paused here and there to remark about certain items. The categories that seemed to intrigue him the most had to do with my barter business. He finally looked at me with a smile said, “So you have a whole separate economy working for you with this barter; don’t you? I’m amazed at all you’ve been able to buy and sell without cash.”
I explained to him that it’s all possible because of the large barter network to which I belong. Because of the size and scope of my barter club and its affiliates, I’m able to realize positive tax and business benefits I could never have with a one-on-one trade. The following are just a few of the major plusses of using an established barter network:
I’m Organized for Tax Season
Because I work with a large network with official barter brokers, everything I buy and sell is thoroughly documented, and I’m able to instantly view every transaction and fee on the website. I’m also able to categorize every transaction at the end of the year. This is important because many of my barter purchases can be deducted off the gross income figure as business-related expenses. My business is also invoiced every month, making quarterly tax filing simplified.
I Always Get My Barter Back
In the past when I’ve done one-on-one barter trades without a barter exchange, I’ve put myself at risk when I’ve bartered with companies in financial trouble. If a company went under, I lost my barter investment. However, when I barter within a network, no matter what I decide to trade, I have thousands of member businesses I can interview and with whom I can spend my accumulated barter dollars. These businesses are motivated to be professional and do things right for me–or they are at risk of removal by my network and broker.
I Keep the Value of My Trade
My barter dollars are linked to the goods and services I provide. If I’m trading computer repair services for uniforms, for instance, I need to know whether or not I’m getting a good deal. By using a barter exchange, I name the price of my trade so that I will always get a fair value on the goods and services I provide.
I Expand My Network
When I join a barter network, my world is instantly expanded. In addition to my exposure to thousands of new businesses I can barter with, I now increase my network of contacts and can access new marketing opportunities I would not have had without my network.
What about you? Does barter make sense for your business? Could these benefits help expand your horizons, too? Barter with confidence using the Southern Barter Club. Join today!