| Bartering is the oldest form of doing business. It is | | | | what is being exchanged. |
| typically known as the exchange of one service | | | | 4. Only barter for services or products you need |
| or product for another of equal value; money is | | | | or will use. It does not do you any good to |
| not exchanged. In today's economy and with the | | | | engage in bartering if you will never use the |
| holidays approaching bartering may be something | | | | product or service; that is the same as wasting |
| you want to explore. The internet is host to | | | | money buying something you do not need. |
| bartering exchanges. Bartering exchanges act as | | | | 5. Treat your exchange partner in the same |
| the broker for those wishing to engage in | | | | manner you would a paying customer. Now is not |
| bartering. My tips below will help you make the | | | | the same to scrimp on service or quality. |
| right decision whether bartering is right for you | | | | 6. Keep careful records and consult with your |
| and your business. | | | | CPA or accountant on the rules of reporting |
| 1. Do not feel pressured or coerced into engaging | | | | bartering. Bartering Exchanges require the use of |
| in bartering with another person or business. | | | | a 1099-B form. Individual bartering transactions |
| 2. When engaging in bartering ensure you are | | | | are reported on Form 1040 Schedule C as |
| bartering for services or products of equal value. | | | | income. |
| If you feel you are getting something of lesser | | | | Remembering to apply the six items above will |
| value you need to speak up. | | | | alleviate the stress that may be associated with a |
| 3. Before exchanging services write the exchange | | | | bartering relationship. Enjoy the holiday season but |
| down so that there is no misunderstanding on | | | | only barter if it is truly the right choice for you. |