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As the Internet continues to play a major role in everyday communication, the barter exchange system embraces the Web as an effective medium and consequently flourishes.Due to the increased flexibility that the Internet provides, the barter system has not only captured the interest of large companies, but also small companies, and individuals alike.
According to the International Reciprocal Trade Association (IRTA), “1/3 of all small businesses use some form of bartering,” “65% of Fortune 500 companies engage in barter in one form or another,” and “barter accounts for 30% of the world’s total business (U.S. Department of Commerce).”
Among the many benefiting from this pairing is California’s Humboldt State University, who recently announced their use of Facebook groups as a platform to create a barter community. Additionally, online barter company International Monetary Systems (IMS) established a new franchise in Southern Florida in January of this year, as a result of the company’s continued growth via their online services.
Yet another company embracing this new trend is Skillbound.com, a free online platform that allows businesses and individuals the opportunity to list the skills and services that either is willing to trade. Site creator, Sebastian Elliot, says, “Many more small businesses continue to discover the benefits of skills swapping and the web makes it easier to find the skills they want.”
Businesses and individuals aren’t the only ones who understand the power of bartering online—the IRS also recognizes its profitability, acknowledging, “The Internet provides a new medium for the barter exchange industry.”
It is therefore not surprising that the government requires that all proceeds from barter exchanges be reported to the IRS, using a special form (1099-B). On a bright note, those in a trade or business may be able to deduct certain costs incurred from performing these bartered services.
Ana Hawk, outspoken founder and CEO of Instant Barter, LLC, the world’s fastest growing barter company, discusses this topic further with Dr. Kevin at www.drkevinradionetwork.com on February 19.
Per Ms. Hawk, “Barter is a powerful tool. There are many things one can do with this system that is not possible with paper currency. The young use the barter system because it is the only economy they know. The poor use it as a stopgap measure. The rich use it as the powerful business tool that it is—it’s the middle class who needs to be re-educated on this system, as it plays a major and growing role in present-day society.”
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Ana Hawk is the founder/CEO of Instant Barter, LLC. Instant Barter is the fastest growing barter company in the world, dedicated to educating people on how to use what they already have to get what they need right now, and to growing their lives and businesses in a challenging economy, thereby enabling them to proposer and live an abundant lifestyle. The IRS views trade and barter dollars just like it views cash, checks or credit card transactions.
For details on the upcoming Dr. Kevin Radio Show, visit https://www.facebook.com/dkrn.fm
Contact Info:
Name: Ana Hawk, CEO
Email: Send Email
Organization: Instant Barter
Phone: 480-648-4296
Website: http://instantbarter.com/
Source URL: http://councilofeliteadvisors.com/liftmedia
Release ID: 75131
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