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January 20, 2015
Written
by Bob Meyer, Editor of BarterNews
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From the desk of Bob Meyer...
01/20/2015
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back issues of "From the Desk..." can be accessed by
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See you next week...) |
Universal Currency (UC) Receives Positive IRS Ruling
The
International Reciprocal Trade Association's global inter-exchange
trading platform, Universal Clearinghouse Inc (UC), received a
Private Letter Ruling (PLR) from the IRS on January 8, 2015, stating
that:
"UC does not have a reporting requirement under Section
6045 of the Internal Revenue Code with regard to transactions in
which it acts in its capacity as the clearinghouse between two
barter exchanges to effect sales on behalf of their respective
clients."
The IRS's letter confirms that UC is not required
to issue 1099B's, because UC acts as a clearinghouse for
transactions in which the UC exchange members' selling clients have
already received a 1099B from their respective UC member exchange.
If UC were to 1099B a UC transaction between UC member exchanges, it
would result in unnecessary double IRS 1099B reporting of the same
transaction.
While IRS PLR decisions apply only to the party
that requested the PLR, private letter rulings are customarily used
by both taxpayers and the government for guidance.
IRTA
requires that all IRTA exchange members comply with IRS 1099B
reporting requirements. In this instance, the guidance IRTA has
derived from UC's PLR confirms IRTA's long held position that barter
exchanges do not have to submit 1099B's in direct-reciprocation
situations since both barter exchange participants in such an
arrangement are in fact acting "as the clearinghouse between two
barter exchanges to effect sales on behalf of their respective
clients."
To read the entire IRS Private Letter Ruling,
click
here.
To read UC’s submission letter, click
here.
For questions regarding this matter, contact IRTA’s
Executive Director Ron Whitney at ron@irta.com or 757-393-2292.
BarterNews.com — World's Largest
Depository Of
Barter Information
Hundreds of valuable articles,
techniques, and strategies are found in the following various barter
categories:
Travel,
Media,
Trade Exchange
Corporate Barter,
Offset & Countertrade,
Secondary Capital,
Real Estate,
Community Barter,
Restaurant & Entertainment
(The Barter
Categories are found on the horizontal bar at the top - 3rd
button from right.)
Money-Making Reports Available From BarterNews
Time For Your Company's Annual
Barter Check-Up!
Just as an annual physical check-up is a good idea for optimal
health, so is the idea for an annual look at your company's barter
efforts. For a few minutes of your time, the following tips will
give you valuable ways your trade exchange can help you make 2015 a
more profitable year. Test yourself by looking at how the last few
months have gone.
Yes or No
Have you
aggressively used your exchange this year to build new contacts and
enlarge your customer base?
Yes or No
Are you staying in touch with your trade
exchange broker on a regular basis to find out what's new and
available, as well as to communicate your particular desires?
Yes or No
Have you analyzed your company’s marginal
cost of doing business? (Day-to-day overhead is already covered by
your regular cash business. It is fixed, regardless of whether or
not you barter. Therefore, it shouldn't be used to figure the cost
of your extra barter business.)
Yes or No
Do you treat
your barter customers as "A-list" clients because they make a
significant, very profitable contribution to your bottom line?
Yes or No
Do you spend a
minimum of 15 minutes a day (90 minutes a week) thinking of ways to
incorporate barter?
Yes or No
Do you have a
file or folder for planning your barter sales and purchases?
Yes or No
Have you filled
out your business work sheet? One column for expenditures paid with
cash, the second column for those acquired on trade.
Yes or No
Are you
employing your exchange's advertising and promotional help whenever
possible? (Remember, it's not what is advertised, but how often it
is advertised.)
Yes or No
Are you using
your trade dollars for perks, incentives, bonuses, and special
occasions when showing your appreciation and recognition?
Yes or No
Are you using a
trade purchase request form? It provides your exchange with an
authorized purchase order, so a salesman from the exchange can
confidently call on a non-member company and sell them on joining
the exchange with your business in hand.
Yes or No
Do you suggest
to your present vendors that additional business be paid with trade
dollars?
Yes or No
When trying to
crack a tough new account do you use the greatest close there is?
Tell them they don't have to pay you in cash. Rather, show them how
to save cash when buying your product or service by joining your
trade exchange.
Yes or No
Have you
reviewed your long standing accounts receivables? If payments aren't
forthcoming, make arrangements to take products or services as
payment.
Yes or No
Have you
approached a long-overdue creditor with a creative solution to your
company's debt problem? Offer to pay your debt with trade dollars.
Yes or No
Finally, are
you realistic in your barter expectations? Since your barter
business is usually from 3% to 10% of your total gross sales, are
you objectively looking at the valuable service your exchange is
providing your company?
Using your trade exchange
efficiently and regularly can make this year more profitable than
ever!
Is Your Trade Exchange Missing Out On
Valuable New Business?
If
your barter company's listing on BarterNews.com isn't current, you
are definitely missing out on new business. The web site
BarterNews.com receives heavy traffic — with over 150,000 page-views
every month. Entrepreneurs and corporate executives check the
thousands of articles, the weekly "Tuesday
Report," and the "Contacts
Section" of our site. They use the latter to find barter
companies with which to do business.
Is your barter company's listing up-to-date?
To keep your listing current is very easy. See the links below to (A)
update any changes to your company's listing, such as new location,
phone number, web site or other information, and (B) if your company
has not been listed.
Here's how to get on board:
To
make changes to your listing
click here.
For
new listings
click here.
10 Strategies For Building Your
Company’s Value
Both the value and the borrowing power of a typical business can
be increased if the business owner takes action to increase
cash-flow and reinforce its predictability. And barter can play a
major role in the enhancement of business strategies.
If
you're so busy earning a living on a daily basis that you don't take
the time to focus on activities that can make your business more
valuable, more predictable and more manageable, here are some
suggestions.
It's important to think about the future sales
price of your business and attracting the best buyers, now-while you
have the luxury of time to increase its market value.
Today
is the best time to begin developing and implementing the strategies
needed to build the value of your business. It is the largest single
asset on a typical entrepreneur's personal balance sheet. Use these
10 strategies to increase your company’s market value. In almost
every case barter can play an important role in maximizing the value
of these strategies.
1. Constantly contain costs
by acquiring needed products and services whenever possible at your
lower marginal cost of doing business through barter.
2.
Diversify your customer base by bringing in new
business through your trade exchange.
3. Improve
operating efficiencies by trading for equipment or services
that increase company efficiency, i.e. computers, phone systems, fax
machines, and other services.
4. Make the business
more recession-resistant by continually broadening your
base of customers. This can be achieved by sustained advertising,
through the efforts and assistance of your trade exchange, which
then builds your company's name and develops a stronger image in the
marketplace.
5. Use working capital more
productively by taking advantage of every trading
opportunity. Replace cash purchases with barter purchases.
6. Encourage internal teamwork through the use of
rewards, bonuses, and perks for employees ... all or which are
available on trade.
7. Improve profit margins
by trading at your marginal cost of doing business. Your barter or
marginal cost of doing business does not include your fixed costs,
as these are stable and covered by your on-going cash business.
8. Increase sales by developing new products
or services. More barter sales mean more cash-flow, thus more money
for research and development of new products and services.
9. Improve market share automatically when barter
sales are obtained.
10. Emphasize non-cyclical
products and services by balancing out the boom and bust
cycles of the cash world. Adding barter to your arsenal is a
counter-cyclical business strategy.
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The Growth and Use of Secondary
Capital (New Money) Creates Unprecedented Wealth In Today's New Age
Of Possibility
There are many forms of secondary
capital — which can be defined as any financial instrument that
measures and communicates value in a common language. Would you like
to see and learn more about the many forms of secondary capital?
We have 70 free, informative and
inspiring, articles for you in our "Secondary Capital Section."
Check it out...
www.barternews.com/secondary_capital.htm.
Get New Money-Making Ideas And
Valuable Contacts!
You can
obtain useful, informative ideas and contacts in every available
back-issue of BarterNews.
Every
barter company in the world is listed on our web site,
click through to our Global List
of Barter Companies.
We welcome your
comments, questions, and observations.
Copyright BarterNews 2015. Redistribution of BarterNews
content expressly prohibited without the prior written permission of BarterNews.
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