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dry cleaning

We Paid the Bill with Dry Cleaning. That’s How Barter Works.

Imagine running your business and paying bills with trade instead of cash. Many businesses in your area are doing just that, including the Mr. Cleaners stores in Acworth and Kennesaw.

“We’ve been trading with The Barter Company for 20 years now,” said Rami Darwiche, owner of both Mr. Cleaners locations. “I couldn’t be happier!”

“Dry cleaning is a competitive business, so I need every advantage available. By working with The Barter Compa-ny, I not only gain new customers through trade but those customers tell their friends who then come in as cash customers. Word of mouth through barter has helped me reach more people and increase my sales. We trade for the maintenance services and supplies I need to run my stores and we’ve taken some nice vacations!”

Mr. Cleaners is a full-service dry cleaning and laundry op-eration that offers free home and office pick up and de-livery in their service area. With more than 28 years of experience, they can handle any type of dry cleaning needs.

The Barter Company has established itself as the leading force in the barter industry throughout the Southeast. They provide businesses with an alternative currency network by using barter dollars instead of cash to handle transactions.

Are you ready to see how barter can work for your company? Contact The Barter Company today. Visit thebartercompany.com or call 770-591-4343.

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tac time

It’s Time to Prepare for the Taxman

Famous author Margaret Mitchell had a way with words when she said: “Death, taxes, and childbirth! There’s never any convenient time for any of them.” Certainly, many would agree. However, the tax deadline is quickly approaching – you must file by Tuesday, April 17, 2018.

This year, there has been a lot of news about tax reforms for 2018, however, taxes filed for 2017 won’t include the new changes so now is a good time to focus on getting these filed. For clients of The Barter Company, you should have received your 1099-B forms that reflect your barter activity for 2017. There won’t be any changes concerning barter in 2018 – you’ll still have to report it as taxable income just as in years past.

If you file your own personal taxes, it’s a good idea to get organized. Make sure you have all your paperwork including W-2 forms, 1099s, receipts, quarterly payments, and any other pertinent documentation. Since the tax code is complicated, working with an accountant or tax preparation firm might be a better way to handle taxes. Any tax professional will need the same paperwork so put your files in order and maintain a good tax organization system throughout the year.

Filing electronically is how many accountants and CPAs recommend businesses and individuals submit their taxes. It’s the safest and most secure way to file your taxes. It helps avoid filing mistakes, offers faster preparation, and provides quicker refunds if you’re expecting one. Most states accept electronic filing as well when you file your federal taxes. And, there is no charge to e-file either federal or state taxes. If you have to pay additional taxes, you can still file electronically and either send a check or share your bank account information with the IRS to automatically deduct the amount due.

For 2018, start reviewing the new tax code and understand how it impacts your business. There are changes to deductions that could work to your advantage or disadvantage. Again, spending time with an accountant is usually money well spent – especially when there are a number of changes.

If you need help with getting your taxes organized or finding a reliable CPA or tax preparation firm, contact The Barter Company. We have a list of barter clients that can help you prepare and file for 2017, plan for 2018, and provide tax advice for business owners and individuals.

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22nd TBC birthday banner

We’re Celebrating 22 Years!

As we celebrate 22 years in business, we want to thank our wonderful clients who have helped grow our company into what it is today. We will continue to work hard to evolve The Barter Company and give you the best, most beneficial experience in the barter industry!

THANK YOU!

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Wooden cubes with numbers "2018" with tax forms and calculator on the table. Business concept. Pay tax in 2018 year.

What You Should Know About Taxes & Transactions

Barter is a widely accepted and proven marketing and business management tool. Barter transactions, like cash sales, are taxable and must be reported as income to the IRS. When you receive and spend trade dollars, there are income tax consequences just as though you were using cash.

The Barter Company is a legal third-party record-keeper on par with banks, credit card companies, and other such custodians of taxpayer financial records.

The Barter Company has a responsibility imposed by law to provide the Internal Revenue Service with information on the barter income of each of our clients for the calendar year. We do this on a Form 1099-B, “Proceeds from Broker and Barter Exchange Transactions.” You, as the taxpayer, are required by law to give The Barter Company your Taxpayer Identification Number (either your Employer Identification Number or your Social Security Number), which we need to prepare Form 1099-B. The IRS matches that number to either your business or personal name for accurate reporting.

Below are some of the most commonly asked questions regarding barter and taxes.

* Are there any tax advantages or disadvantages to barter? No. You should view barter income, as you would cash income. Barter is a marketing and business management tool, not a tax strategy or tool. Generally speaking, as with cash income, business-related barter purchases are deductible and, conversely, your barter income (sales) and business deductions (purchases) should be accounted for separately on your tax return.

* What constitutes income in barter transactions? Barter income accrues to you or your business when trade dollars are posted to your account, property or services are received, cash is received, or scrip is issued to you as part of a barter transaction.

* In what year are trade dollars taxable? The Internal Revenue Service has ruled that trade dollars earned from your barter sales should be included as income for the tax year in which they are credited to your account.

* How do I know how much barter income to include in my tax return? At year-end, The Barter Company will compute the proceeds from your barter sales and submit this information to the Internal Revenue on Form 1099-B. The Barter Company will also give you a copy of this form or some equivalent documentation. Be sure to include the barter income listed on Form 1099-B in your total income when filing your tax return.

If you have any questions, please give us a call at (770) 591-4343.

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customer loyalty

Are you Showing your Customers Some Love?

February has long been known as the month of love and this year was no exception – Valentine’s Day 2018 was projected to have had nearly $20 billion dollars in spending. With all the thoughts of “love” in the air, are you showing your customers enough attention? Do they know how important they are to your business? An excellent way to show some love is through a customer rewards program. This can be as simple or as extravagant as it needs to be to fit your organization’s needs.

Here are a few ideas to love:

  • Target your best customers and make sure they not only know about the program but want to participate. If rewarded properly, these noteworthy customers will spread the word about how great your company is. Create a customer rewards program that is straightforward and achievable.
  • Make it easy to use. An uncomplicated program is a must for customers as well as you and your staff. If it takes up a lot of time internally, it won’t be worth the effort. If your customers are tech savvy, maybe an app will work. Or, a simple punch card might be perfect. Know your customers and tailor it to their needs.
  • Have fun with it and be creative. Competitions can be fun for customers who know each other or interact on a regular basis. Just don’t get too carried away. You want to make sure your customers will use it and not be put off by too many rules or a lengthy process.
  • Offer desirable rewards that your customers will want to talk about and share what they received with their friends and family members — your future customers. If potential customers hear about the “love” you show present customers, they may be more inclined to become a customer too. People are excited to receive free items even if they’re small but cool or trendy – it’s an acknowledgement that their business is important to you.

Whatever program you select, make sure it’s trackable so you know if customers are using it and if it’s reaching the objectives you set. This will help you show your love for your customers as well as let your customers love you back.

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The Barter Company Featured in Cobb Chamber Ink

Click here to view the complete story via Cobb Chamber’s website.

Thank you to our friends at the Cobb Chamber of Commerce for the write up on our recent exciting news! This month, we have inducted the newest member of our Million Dollar Club, Dave’s Front Row, owned by David and Susan Leach. Their business provides tickets to all kinds of events, including college football games, professional sporting events, concerts, and special events.

“Dave’s Front Row was quick to reach the million-dollar level status,” explained Ric Zampatti, TheBarter Company Founder and CEO. “While many companies can take 15-20 years to achieve this milestone, Dave’s Front Row reached it in less than 10. Tickets to sought-after events are always popular items in our barter network and it makes sense for business owners to trade for them rather than pay cash.”

dave leach million dollar pic

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organize

Start the New Year Right

Most of us make personal resolutions for the New Year so why not make them as business owners too? What would make your company better? One area that many offices can benefit from is to be better organized and January is a great time to tackle this effort. With the start of a New Year, there’s a spirit of wanting to start new, refresh, and clear out. Here are some tips to get started:

  1. It’s hard not to keep everything because it might be important. But most of us keep way too much paper. Begin by sorting through past years and decide what can be shredded. If you have a lot to shred, there are companies that will come to your office and shred onsite. Also purge computer files. Backup anything that needs saving but delete what doesn’t. Invest in a shared cloud storage system that can be accessed by the staff but doesn’t take up space on individual computers. You may not become a completely paperless office, but less paper makes for less clutter and less stress.
  1. Create an area for files that staff members need to reach that is easily accessible. Tidy up the office, donate old electronics, and make sure that break room is a pleasant place for staff.
  1. It could be time for you to update your accounting systems. There are many services and software systems that will automatically invoice, track payments, and record expenses. Not only will this help with organization, it could free up staff time to focus on other projects.
  1. Review if there are any documents that need to be updated or put in order, including local and state licenses or tax information. When in doubt, consult your accountant or attorney to make sure you’re current.

If this seems like an overwhelming task, get your staff involved. Create a casual “clean up” day and bring in pizza. If it’s still too much to handle, contact a professional organizer to help. There are companies and services that specialize in office organization, shredding, and IT updates. However, you accomplish it, having a more organized office to start the New Year will help get everyone on track and productive.

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dave leach million dollar pic

The Barter Company Inducts Newest Million Dollar Club Member

The Barter Company, a recognized leader in the barter industry, announced today that one of its clients, Southern Marketing Entertainment, has reached the company’s million dollar club level.

Million Dollar Dave has been with TBC for 10 years, and in that time has made over $1,000,000 in sales and purchases using barter. While many companies can take 15-20 years to achieve this milestone, Southern Marketing Entertainment’s owner Dave Leach is the quickest to reach the million-dollar level status in just under 10 years!

Congratulations on this accomplishment and thank you for your years of dedication with TBC!

About The Barter Company

The Barter Company (TBC) has established itself as the leading force in the barter industry throughout the Southeast with offices in Georgia and Florida. TBC provides businesses with an alternative currency network by using barter dollars instead of cash to handle transactions. The company acts as a third-party records keeper, providing clients with monthly statements that reflect all barter purchases, sales, and current barter dollar balance. For more information, visit The Barter Company’s website.

 

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Casino website flyer

Join us for our 2018 Casino Night!

Saturday, March 3rd at the Metropolitan Club in Alpharetta from 7:00- 10:30.

T$250 couple / T$150 single

Price includes: dinner, drink tickets, gambling money, music, dancing, formal photos, prizes and more!

Please RSVP by completing the form below.

2018 "Casino Night Party" RSVP Form

2018 "Casino Night Party" RSVP Form

Sending
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Set Yourself Up For New Year Success

small biz successIt’s not too late to start prepping your business for new year success! Small business owners take this time to evaluate their accomplishments and set the course for what’s ahead.

Every small business has a slightly different end of year checklist. That said there is definitely a common thread that runs throughout. Some of these items may seem obvious but you’d be surprised how many are overlooked. While small they’re still very important and they can make all the difference for accomplishing your goals in 2018.

Here are four small things you can do to prepare your small business for the new year. (www.entrpreneur.com)

 1. Organize your booksFirst and foremost you need to get the logistics out of the way. At the top of your list should be your books. Hopefully you’ve been setting enough money aside each month to pay your taxes. If not, then you’re in trouble. Either way you need to get everything prepared for the good old Uncle Sam.

Make sure you take the time to carefully examine all your financial reports and really take this time to evaluate your progress. If you had trouble getting your books in order then you may make it a goal of yours to keep better track of your finances next year.

One pro tip I can give you is that you may want to consider using an online payments solution with invoicing and expense management functionality. That way you can automate your bookkeeping and focus more on growing your business.

2. Reflect with your team

The end of the year should really be a time for reflection. If you’re like most small business owners the majority of your day is spent in your own head grinding on making your business thrive. Often times this results in the owners missing out on valuable feedback and time spent with their staff.

As things wind down for the holidays make sure you take the time to reflect with your team. Setup one on one chats as well as a group discussion to gather feedback. Make sure every single person has a chance to provide input. This will make for a stronger more engaged team in the long run.

3. Prepare for growth

Growth is typically on the top of the list for every small business owner. However many of them don’t actually take the necessary steps to make that happen. As the year comes to an end this is the time to really set the stage for growth.

Think about where your business is lacking and what efforts produce the biggest return on investment. This also may be the time when you decide to cut a few employees loose. It’s never easy but if you want to be able to move the company forward you need to do what’s necessary.

4. Upgrade your technology

For better or for worse we’re living in the time of constant innovation. Good news is there’s a ton of new technology every single year that can benefit your business. Bad news is that it means you have to replace your old systems with new ones.

If you have the time you should run a quick check to see if you’re up to speed on the latest technologies available. Here are a few tools you may want to checkout before going into the new year:

  • Slack provides seamless and affordable team communication. I highly recommend this to any startup or team.
  • Dropbox is great for file-sharing and recently released Dropbox papers which provides a Google Drive style collaboration tool.
  • Buffer is great for social media marketing as it lets you schedule posts from your social accounts.
  • Calendar is a fantastic tool for scheduling and managing your time.

Final Thoughts

Out with the old in with the new. With 2018 here it’s time to check those last few items off the list so you can start the new year with a bang. If your a small business owner make sure to do these four small things before wrapping up the year!

 

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