The Barter Network is a commercial trading network of companies in the United States founded in 2006 by Bergenske Enterprises, Inc. of which G. Jason Bergenske, President and CEO owns 100% of the corporation's shares. The Barter Network has expanded to include over 700 companies, which trade with one another using a medium of exchange known as 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. Trade dollars are electronically transferred—via telephone or internet—by the seller from the buyer’s trade dollar account. Members of The Barter Network (TBN) also agree to offer their goods and services at the same prices they charge in cash transactions.
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.http://www.thebarternetwork.net TBN Press Releases
Corporate governance G. Jason Bergenske, Chief Executive Officer
Growth
Their trade volume for 2006 was $786K. Their trade volume for 2007 was $1.06 million in 2007.http://barternews.com/tuesday.htm Barter News Tuesday Report Their trade volume for 2008 was $1.8 million, an increase of 58% over $1.06 million in 2007.http://barternews.com/tuesday.htm Barter News Tuesday Report Their trade volume for 2009 was $2.7 millionhttp://barternews.com/tuesday.htm Barter News Tuesday Report Their trade volume for 2010 was $4.2 million.
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."Tax Topics – Topic 420 Bartering Income The barter in many cases must be reported on Form 1099-B and Schedule C.https://www.irs.gov/businesses/small/article/0,,id=113437,00.html Barter Exchanges
Industry associations International Drive Chamber of Commerce.Member of International Drive Chamber Central Florida International Chamber of Commercehttp://www.centralchamber.org/barter.html Member of Central Florida International Chamber World Connect Chamber of Commerce
See also List of international trade topics Local currency Local Exchange Trading System Natural economy Private currency
References
External links The Barter Network International Reciprocal Trade Association National Association of Trade Exchanges