The barter network
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| File:The Barter Network Logo.gif | |
| Company type | Private Company |
|---|---|
| Industry | Barter |
| Founded | 2006 |
| Headquarters | , |
Key people | G. Jason Bergenske, President & CEO |
| Products | Financial services |
| Revenue |  US $2.7 million (2009) |
| Website | www.TheBarterNetwork.net |
The Barter Network is a commercial trading network of companies founded in 2006 by Gary "Jason" Bergenske, President and CEO. The Barter Network has grown to over 500 companies. These companies trade among each other using a medium of exchange called a trade dollar. The Barter Network reports that, in 2009, its 700 members conducted over $2.7 million in trade sales and purchases.[1]
Operation
Upon joining the TBN network, members agree to accept TBN Trade Dollars, instead of USD legal tender, when they sell to another TBN member. The trade dollars are electronically (via telephone or internet) transferred by the seller from the buyer’s trade dollar account. TBN members also agree to sell their goods and services on par with their cash everyday selling price.
History
The Barter Network in 2006 originally opened its doors in Sanford, Florida just outside of Orlando. In November of 2007 they outgrew their offices and moved to Winter Park, Florida.[3]
Their trade volume for 2008 was $1.8 million, an increase of 58% over $1.06 million in 2007. [4]
Corporate governance
- Gary "Jason" Bergenske, Chief Executive Officer
Growth
The Barter Network Reports 58% Growth Year-Over-Year; The Barter Network, founded in 2006 and located in Winter Park (FL), reported their trade volume for 2008 was $1.8 million, an increase of 58% over $1.06 million in 2007.[6]
Tax implications
In the United States, it is generally not possible to avoid income taxes by bartering one's services. According to the IRS, "The fair market value of goods and services exchanged must be included in the income of both parties."[7] The barter in many cases must be reported on Form 1099-B and Schedule C.[8]
Industry associations
- International Reciprocal Trade Association
- International Drive Chamber of Commerce.[9]
- Central Florida International Chamber of Commerce[10]
- World Connect Chamber of Commerce
See also
- List of international trade topics
- Local currency
- Local Exchange Trading System
- Natural economy
- Private currency
References
- ^ http://barternews.com/tuesday.htm Barter News Tuesday Report
- ^ Announcement of New TBN Currency
- ^ http://www.thebarternetwork.net TBN Press Releases
- ^ http://barternews.com/tuesday.htm Barter News Tuesday Report
- ^ Announcement of Membership Cards
- ^ http://barternews.com/tuesday.htm Barter News Tuesday Report
- ^ Tax Topics - Topic 420 Bartering Income
- ^ http://www.irs.gov/businesses/small/article/0,,id=113437,00.html Barter Exchanges
- ^ Member of International Drive Chamber
- ^ http://www.centralchamber.org/barter.html Member of Central Florida International Chamber