Tight economic times require creativity to stay ahead of your competition and wallet. There once was a time when businesses scratched each other’s backs – They helped one another out, because if your neighborhood is thriving, then so can you. Bartering is the exchange of goods and services of equal value – without the exchange of money. What’s not to love about that!
When it makes financial sense, look locally to have your business needs fulfilled and offer your valuable services in exchange. For example, if you normally have your location cleaned - then seek out a cleaning company to barter with. Printing, Advertising, Cleaning Services, etc…
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Barter for business supplies and services that your business needs
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Agree, in writing, on the value of each others services prior to swapping services
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Keep track for your IRS records. It’s best to swap services for services. Deduct as a business expense. Learn more about IRS bartering rules here: http://www.irs.gov/taxtopics/tc420.html
How are you stretching your budget?
–Deb
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