Newspaper Page Text
PAGE 6A
, FORSYTH COUNTY NEWS Sunday, August 19,2001
Bartering buoys local businesses
By Mary Pitman
Lifestyles Editor
Boyd Hildebrandt has been
involved in barter for more
than 10 years. The owner of
Tuxedos Fast/Tuxedos Ware
house, located in Cumming
for the past five years, has
found bartering to be away to
expand his business.
“Bartering introduces you
to customers you wouldn’t
have had,” said Hildebrandt.
“People in barter will go a lit
tle farther to do business with
you.”
Last weekend he did a
wedding in Dunwoody and
next weekend he has one in
Marietta. He attributes both to
bartering.
There are several barter
organizations. The organiza
tions act as a broker and do
the leg work for you matching
wants with availabilities. With
the larger barter groups that
have offices in other cities,
you trade with businesses hun
dreds of miles, or even an
ocean, away.
Here’s how it works.
The barter business acts
like a bank. When you “buy”
services, you write a barter
check. That amount is debited
from your account. When peo
ple “buy” your services, they
write a barter check and it is
deposited into your account. A
monthly statement is issued,
just like with a bank.
Hildebrandt uses his bar
tering primarily for business
expenses.
“We treat it as business
income, just like cash,” he
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explained. “That’s why we
spend it on our business
expenses.”
Examples of barter dollars
spent on his business include
dry cleaning, printing for busi
ness cards and forms and store
fixtures.
He’s also bartered a couple
days at a bed and breakfast,
auto repairs, vet care and
meals at restaurants.
“The savvier traders spend
both for business and person
al,” said Faythe Willis, busi
ness development coordinator
at Tradebank International in
Atlanta. Tradebank has fran
chises throughout the United
States, Canada and Europe.
She’s had some of the same
clients for as long as she’s
been there.
“It’s like you become a
part of the family,” she contin
ued. “I’ve put braces on their
children’s teeth, carpets in
their home and fixtures in
their store.”
On Friday, Aug. 10, a few
of the trades Willis brokered
included moving services, dry
cleaning, top soil, mattresses,
Broadway series tickets, print
ing, gutters, tree service, land
scaping, limo service, wed
ding photography, jewelry,
advertising and eyeglasses.
“I have experienced the
advantages of bartering both
as a former business owner
and as a trade broker for
Tradebank for the past 14
years,” Willis said. “I have
seen tremendous changes in
this industry over the years. I
am ecstatic about the recent
by J. Regan Walters to rezone
one acre on the north side of
Old Alpharetta Road near
Meadow Lane for office use.
The planning commission rec
ommended denial.
• Postponed consideration
until Sept. 24 on the applica
tion by Suwanee-based
Riverbrooke Properties to
rezone 28.62 acres on the
south side of Hwy. 9 near
Majors Road for 170 town
houses. The land is currently
zoned for agricultural and res
idential uses. The planning
commission recommends
increased interest in trade.”
Although Barter Consul
tants, also in Atlanta, is not a
franchise, they have access to
other barter exchanges
throughout the United States
and Europe.
The companies make
money from membership fees
and a percentage commission
on sales. Some also charge a
monthly or quarterly mainte
nance fee.
good because
they’re the ones who put you
in touch with the ones you
want to do business with,”
added Hildebrandt. “But you
can’t always get what you
want, when you want it.”
“For barter to be success
ful, you have to have a double
coincidence of wants,” said
Dr. Rajeev Dhawan, director
of economic forecasting at
Georgia State University.
“There has to be two parties
with matching needs.
“Just because you have a
monetary society, doesn’t
mean barter will go away.
There are certain transactions
where barter will always be
around babysitting, for
example. You watch my child
today, I’ll watch yours tomor
row.”
“The people who are spe
cific down to the last detail on
what they want are not as suc
cessful in their trades,” said
Mary Peake, trade broker at
Barter Consultants.
“If you’re not as specific,
the possibilities are almost
endless.”
Hildebrandt cautions ag-
approval.
• Postponed consideration
until Aug. 27 on the applica
tion by McDonald’s Corp, for
a Conditional Use Permit for a
drive-through window for a
proposed fast-food restaurant
at Hwys. 9 and 141. The plan
ning commission recommends
approval.
• Postponed consideration
until Sept. 24 on the applica
tion by Riverbrooke Properties
to rezone 4.59 acres on the
north side of Hwy. 9 near
Glen Wallace Drive for 27
townhouses. The planning
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Boyd and Alice Hildebrandt has been involved in barter for more than 10 years. The
owners of Tuxedos Fast/Tuxedos Warehouse in Cumming, have found bartering to be
away to expand his business.
ainst getting too wrapped up
in trading.
“I’ve seen businesses do
too much bartering and it hurt
their cash flow,” said Hilde
brandt.
“Some have lots of barter
credits and don’t know how to
spend them. I’ve seen people
in business situations where
the business was hurting and
they thought it would help
them out. It doesn’t do that.
It’s reported income so it’s not
away to avoid taxes.”
Bartering is considered
income and as such, is tax-
commission recommends
approval.
• Postponed consideration
until Aug. 27 on the applica-
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able. According to the IRS
Web site, “The fair market
value of goods and services
exchanged must be included
in the income of both parties.”
Trades made through a broker
should include a form 1099-B,
“Proceeds from Broker or
Barter Exchange Transac
tions,” or similar statement.
The form should show the
value of any cash, property,
services, credits or scrip you
received from the exchange
during the year.
Every seller is responsible
for state and local sales taxes.
tion by 400 North Realty
Group LLC of Woodstock to
rezone 68.78 acres on the west
side of Hopewell Road near
“But the beautiful thing is,
the sellers also allow the buy
ers to trade their sales tax as
part of the billable trade,” said
Willis.
Although most brokerages
include an orientation, Hilde
brandt says some people don’t
pay attention to the details
thinking it’s unimportant.
“You need to keep your
bartering in a certain ratio so
that you can keep your cash
flow correct. I keep mine
around 10 percent. You still
have to pay your electric and
your rent,” he concluded.
Freeman Drive for a 73-lot
subdivision. The planning
commission recommends
approval.