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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 grown to over 700 companies. These companies trade among each other using a medium of exchange called a trade dollar.
 | |
| Company type | Private Company |
|---|---|
| Industry | Barter & Alternative currency |
| Founded | 2006 |
| Headquarters | , United States |
Key people | G. Jason Bergenske, President & CEO |
| Products | Financial services |
| Revenue |  US $4.2 Million (2010) |
| Website | www.TheBarterNetwork.net |
Operation
editUpon 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
editThe 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
editGrowth
editTheir 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
editNEWS 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
editIn 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
editSee also
editReferences
edit- ^ http://www.thebarternetwork.net TBN Press Releases
- ^ http://barternews.com/tuesday.htm Barter News Tuesday Report
- ^ http://barternews.com/tuesday.htm Barter News Tuesday Report
- ^ http://barternews.com/tuesday.htm Barter News Tuesday Report
- ^ http://www.clickorlando.com/money/19334118/detail.html WKMG 6 News, Newspaper Story on TBN
- ^ http://www.clickorlando.com/money/19334118/detail.html#video WKMG 6 News, TBN seen on TV
- ^ Tax Topics – Topic 420 Bartering Income
- ^ https://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