Bartercard?

Question

We run a building business and have been approached by Bartercard to join up. What is it all about?

Answer 1

I thought these had dried up long ago.

It works like this.
If you are a member, there also may be a doctor,
a lawyer,
a mechanic, and
a floor covering store.

If the doctor needed your services, you would perform that service, say, $1,000.00.

The Barter service owes you $1,000.00.
The doctor owes the Barter service $1,000.00

Now, suppose that you need your car repaired.
The mechanic does the work for you for $1,000.00.
Now the Barter service owes the mechanic $1,000.00.
Your account is paid for $1,000.00.

Now suppose the mechanic needs a doctor.
The doctor gives the mechanic service for
$1,000.00.
The doctor's account is paid.
The mechanic's account is paid.

It goes on and on. An account may not always be paid in full and a balance may be carried on the books, to be used for another service.

If one needed carpet, the floor covering store would do the work and the Barter service would owe the store, and the store could use someone else's service.

This is just trading ones work for another's.
At one time, this was done without the intereference of the IRS. So, by trading, no taxes were ever paid by those involved.
Not any longer. The IRS is looking over their shoulders.

The adavantages lie primarialy with the member who only trades ones time. The member who has an outlay for materials and/or wages, must consider that "cash" is involved, not just "time".
In your case, you could conceivably trade your business away, unless controlled.

This was a profitable game at one time, before the IRS became involved. I question it's value at present, for some.
I could boggle your mind with experiences that I have seen.

Answer 2

I think it's like a yellow pages sort of thing.

They also sponsor London Irish RFC, so they must be Good !

C'mon the Irish !!!

Answer 3

ask them