The Barter Network

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The Barter Network
Founded2006
Headquarters
Winter Park, Florida
,
United States
Key people
G. Jason Bergenske, President & CEO
ProductsFinancial services
RevenueIncrease US $4.2 Million (2010)
Websitewww.TheBarterNetwork.net

The Barter Network is a commercial

CEO
owns 100% of the corporation's shares. The Barter Network has grown to over 700 companies. These companies trade among each other using a medium of exchange called a trade dollar.

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 originally opened its doors in 2006 in Sanford, Florida just outside Orlando. In November 2007 they outgrew their offices and moved to Winter Park, Florida.[1]

Corporate governance

  • Chief Executive Officer

Growth

Their trade volume for 2006 was $786K
Their trade volume for 2007 was $1.06 million in 2007.[2]
Their trade volume for 2008 was $1.8 million, an increase of 58% over $1.06 million in 2007.[3]
Their trade volume for 2009 was $2.7 million[4]
Their trade volume for 2010 was $4.2 million

Media Interests

NEWS ARTICLE: A bartering boom has hit Central Florida as Orlando-area businesses try to survive in today's economy using The Barter Network system.[5]

ON TELEVISION: A bartering boom has hit Central Florida as Orlando-area businesses try to survive in today's economy using The Barter Network system.[6]

Tax implications

In the United States, it is generally not possible to avoid income taxes by

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

See also

References

  1. ^ http://www.thebarternetwork.net TBN Press Releases
  2. ^ http://barternews.com/tuesday.htm Barter News Tuesday Report
  3. ^ http://barternews.com/tuesday.htm Barter News Tuesday Report
  4. ^ http://barternews.com/tuesday.htm Barter News Tuesday Report
  5. ^ http://www.clickorlando.com/money/19334118/detail.html WKMG 6 News, Newspaper Story on TBN
  6. ^ http://www.clickorlando.com/money/19334118/detail.html#video WKMG 6 News, TBN seen on TV
  7. ^ Tax Topics – Topic 420 Bartering Income
  8. ^ https://www.irs.gov/businesses/small/article/0,,id=113437,00.html Barter Exchanges
  9. ^ Member of International Drive Chamber
  10. ^ http://www.centralchamber.org/barter.html Member of Central Florida International Chamber

External links

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