illegal?

Status
Not open for further replies.
mcclary's electrical

mcclary's electrical

Senior Member
Location
VA
I have cut and pasted directly an E mail I recieved and responded to.

>
>
>
>
>
>
>
>>Him Do you trade/barter for your services?
>
>
>
>
>
>
>>Me Generally speaking, that's illegal? What are you proposing?
>
>
>
>
>
>
>
>



Thanks for getting back to me. I manage a barter network. We have
hundreds of local and national businesses that provide thousands of
products and services.



Below is more information about our barter network. If you like the
concept after reading this and you want to learn more, I will send you a
link to our website.



Here are the two main reasons that businesses are members of our Barter
Network.



The Bottom line:

++We bring you more business.

++We save you cash.



Please read on.

Thanks

XXXXXX



The premise is simple. Our members buy and sell their goods and services
from and to each other. Instead of using cash for these transactions,
they use barter dollars as their currency. Barter dollars are earned when
a member sells a product or service to another member.



For example: Let's say that you are a barter member and you sell $1000 of
your services to a plumber. The plumber would write you a barter check
from his barter bank account for $1000. You would deposit that $1000 into
your barter bank account. Then you could spend that $1000 with a Dentist,
a website designer, advertising, a printer, a hotel or any of the
thousands of the goods and services offered from any of the hundreds of
other different types of businesses represented in our 25,000 member
network. (Nationwide & local)



If you have interest in finding out how being part of our barter community
can help you get new business...business that you just won't find in the
cash world, send me an email. I will send you a link to our website. Or
give me a call if you have specific questions.



PS - Ask me how you can start your barter account with a $1000 credit.



I look forward to hearing from you.

Thanks again.

XXXXXXX



My question is,,,,this has got to be illegal? How do you pay taxes on these transactions? The government will not/ does not allow this as far as I know. Am I right or wrong?
 
Last edited by a moderator:
D

dbuckley

Senior Member
Location
Canterbury, New Zealand
There are huge numbers of bartering, trading, and local currency schemes, theres nothing whatsoever illegal about them. However, most tax juristictions (including the USA) require that you pay tax on any of these schemes where but for the existance of the scheme you would have to have paid real money for the good or service.
 
V

Volta

Senior Member
Location
Columbus, Ohio
It's just as legal as buying something from out of state. You file for your state's use taxes, right ;)?

If nothing else, the representative is loose with numbers. Early they say:
"We have hundreds of local and national businesses"
and later:
"any of the hundreds of other different types of businesses represented in our 25,000 member network. (Nationwide & local)".

I suppose 25,000 is "hundreds", but kinda sloppy. No crime, though.
 
MAK

MAK

Senior Member
Location
Massachusetts-Boston
benaround said:
Who run Barter Town, louder, Who run Barter Town.
Click to expand...

Master Blaster:D
master%20blaster.jpg
 
S

Sparky555

Senior Member
Bad idea.

The house takes a cut.
The "dollars" you earn can only be used within the system.
The house goes bust & you're SOL.
 
charlie b

charlie b

Moderator
Staff member
Location
Lockport, IL
Occupation
Retired Electrical Engineer
OK, I start by putting $500 of my cash into the system. That is real money, out of my pocket. Next, I do a job for another club member, a job that would normally have earned me $500 (side job as a photographer, not an electrician ;)). Since I didn't get cash, but rather got "club dollars," that is now a total of $1000 worth of real money, out of my pocket. Now I visit a dentist who is a club member. Rather than paying that person $1000 for his services, I write a "club check" for that amount. Since I didn't have to pay cash, that is essentially $1000 of real money that I didn't have to spend.

Excuse me, but where are the savings? I invested $1000, and I received $1000 of services. That sounds just the same as would have happened, had I not joined the club. :confused: I see no benefit, and I see a huge risk. Two risks, actually, one of which (club goes out of business) is one risk. The other risk is that the dentist I visited suddenly decides that he won't accept club dollars, and insists on real money. Either way, I am out 100% of the money I "invested" in the club.

No. Sorry. Not for me, thanks. :mad:
 
growler

growler

Senior Member
Location
Atlanta,GA
charlie b said:
Excuse me, but where are the savings? I invested $1000, and I received $1000 of services. That sounds just the same as would have happened, had I not joined the club. :confused: I see no benefit, and I see a huge risk. Two risks, actually, one of which (club goes out of business) is one risk. The other risk is that the dentist I visited suddenly decides that he won't accept club dollars, and insists on real money. Either way, I am out 100% of the money I "invested" in the club.

No. Sorry. Not for me, thanks. :mad:
Click to expand...


There is already a great barter system in place where we exchang these little pieces of green paper for goods and services and there is a very large membership in the cub.

When was the last time you were paid in real money, I'm talking "Gold".
 
charlie b

charlie b

Moderator
Staff member
Location
Lockport, IL
Occupation
Retired Electrical Engineer
growler said:
When was the last time you were paid in real money, I'm talking "Gold".
Click to expand...
Good question. But at least I do get paid with green paper slips that include the phrase "legal tender for all debts public and private." I don't see that happening in the club.
 
Status
Not open for further replies.
Top