IMAGE TEXT. Build WorkSource

Building Business and Careers

  • Facebook

By Milt Wright and Anita Lee Wright
Milt Wright & Associates

BARTERING

Bartering can reduce the cost of
starting or expanding your business

Bartering is a wonderful way of accessing support to start or expand your business. Services can be traded. The fair market value of goods and services exchanged must be included in the income of both parties.

For example:

  • An accountant has a need for website design
    and a web designer has a need for accounting services.
  • A marketing consultant has a need to send their dog to obedience school
    and the obedience school needs a marketing consulting.

Evaluate what expertise you have to share with someone who also provides services or products that you need. If you have exhausted your personal network, there are a number of websites who specialize in bartering. A few of these websites are:

www.barteringconnection.com
The bartering connection helping you buy, sell or trade

How Your Small Business Can Grow with Bartering


Bartering is taxable and must be reported income in the year in which you receive the goods or services. Generally, you report this income on Schedule C, Profit or Loss from Business Form 1040. If you are in a business or trade, you may deduct any costs you incurred to perform the work that was bartered. If you exchanged property or services through a barter exchange, you should receive a Form 1099B

*The Build WorkSource web site provides material on topics of interest to businesses. It is not intended as legal advice or to answer specific legal or employment problems. The information presented in the Build WorkSource web site is from many sources therefore there can be no warranty or responsibility as to the accuracy, originality or completeness. Build WorkSource is not engaged in rendering legal or other professional counsel.

Sponsors

  • Build Rehabilitation Industries
  • Build Specialty Products
  • Build Contract Packaging
  • Build Worksource General Partners