Anyone Ever Think Of Barter?

MEDIAINSTALLS

Has anyone ever joined a barter group?

We just joined one about a month ago and it has been somewhat successful. This group is NJ based and has about 1700 members from every type of company imaginable. Most realize you have to pay cash for some materials or products, cant just give it away. But the labor is all barter dollars. We then use the barter money to do all our print work and ads (val pac, papers, direct mailing ect.) for free.

Anyone else try this?

SLSTech

Nice in theory but no thanks & make sure you talk to your accountant - The IRS will love you & your list of associates

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Cole82

X2
You pay taxes on trades

MEDIAINSTALLS

How can i say this nicely.......i really cant but do a search on google and learn about it before you make a comment. This is nothing new and has been around for many years.

If you have to pay sales tax it is done in cash, and i would assume you have a sales tax cert. given to you by the state you conduct business in no?

SLSTech

Nicely - is a smart idea

Bartering has been around since the beginning of time. I know this, I assume you know this or are learning this, the IRS knows this & yes the states know this. With this in mind...

I did not comment on your sales tax issues as each state is different & I have no knowledge of NJ - thus no comment. Some require a Transaction Privilege Tax license, an Occupational License (In my Case), etc...

I did recommended that you talk to a tax adviser - why? The IRS - that is a Federal Government entity also known as the Internal Revenue Service & this is what they have to say

Have a nice day - I'm sure there will be a nice gentleman or lady contacting you shortly saying "Hi, I'm for the government & I am here to help" You might want to call your accountant now...

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SLS Construction Solutions Our Blog - The HTRC