By the Price of Business. US Daily Review’s Radio Partner. Sponsored content*
Recently the major TV networks have been discussing the rise of bartering — the simple system of exchanging products and services without trading cash. This system existed before currency itself and has become quite the craze again because it helps support cash flow in a tight economy. Through bartering people can get the things they want without the challenges that come with monetary exchange. In a tight economy like the one we are in, businesses now more than ever are considering barter.
The problem is, the IRS frowns on the activity because they see it as a way for people to essentially “make profit” without being taxed on it. Furthermore, bartering has always been a problem because, although a company may have what your want, you may not have what they want. But what if there are hundreds or even thousands participating? What if you use script that can be used at any of the bartering members like cash? What if there are sophisticated ways to make sure it is accountable for the IRS? There is a company that has been involved in barter for almost 30 years and it is even traded on the stock exchange. On a recent Price of Business show (M-F at 8 pm) host Kevin Price interviewed an authority, Chris Christensen, on bartering systems who has been in the field for years. The interview is thorough and addresses the chief concerns individuals have when it comes to bartering.
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