Barter Topics

• relational database software
• sophisticated relational database
• barter industry
• advent of the internet
• metaphorical expressions
• hard currency
• national currency
• barter exchange
• cash transaction
• business expense
• business models
• chum
• business income
• scrip
• software programs
• bia
• boon
• brokerage
• taxation
• bartering

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Barter, Barter

The barter exchange operates as a broker and bank and each participating member has an account which is debited when purchases are made, and credited when sales are made. With the removal of one-to-one bartering, concerns over unequal exchanges are reduced.

The advent of the Internet and sophisticated relational database software programs has further advanced the barter industry's growth. Organized barter has grown throughout the world to the point now where virtually every country has a formalized barter and trade network of some kind. Complex business models based on the concept of barter are today possible since the advent of Web 2.0 technologies.

To make up for a lack of hard currency, Thailand's township, Amphoe Kut Chum, once issued its own local scrip called Bia Kut Chum : Bia is Thai for cowry shell, was once Baht, and is still current in metaphorical expressions. Running afoul of national currency laws, the community changed to barter coupons called Boon Kut Chum that bear a fixed value in baht, which they swap for goods and services within the community.

There are many opportunities for entrepreneurs to start a barter exchange.

Barter members call into the exchange brokerage with things they need and the brokers match those needs with other members that can fill them.

In other words, it is handled the same way as a cash transaction regarding taxation. If you bartered for a profit, you pay the appropriate tax, if you generated a loss in the transaction, you have a loss. Bartering for business is also taxed accordingly as business income or business expense.

Source: Wikipedia > Barter