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Frequently Asked Questions

Frequently Asked Questions (FAQ)

So how does “bartering” work with GBC?

To put it simply, being a member of GBC lets you exchange goods and services without the use of cash—in most cases, for cents on the dollar. If you think about it, bartering has been in practice since the beginning of man. GBC is the paragon of bartering at its best: it is a highly evolved system that is more than a means of trade; it's a sophisticated business practice that enhances productivity, efficiency and creates new business opportunity while obtaining goods and services at tremendous value.

Does bartering with GBC offer any tax advantages?

There are no tax advantages in the business of barter. Your GBC earnings are considered the same as cash income by the IRS. You should look to barter as a powerhouse marketing and new business tool, as well as a way to glean new efficiencies in moving inventory or turning low productivity into buying power. At the end of the year, GBC will issue you at 1099-B for all sales transactions. Please note that any cash purchases that are typically deductible are also deductible as trade expenses.

Why is bartering through GBC better than “direct bartering.”

When you barter through GBC, you literally have thousands of businesses with whom you may trade. Even if you've bartered goods with company X, you do not need to use the earnings to exchange with that specific company—or even at the same time. What's more, GBC acts as your worldwide outside sales team, actually searching out new customers. It is a proven way to increase sales and market share, while preserving cash for everyday business needs.

What are the key benefits of joining GBC?

Think of bartering as a powerful business model. It secures new business, turns unused or surplus inventory into the products and services and helps you grow your business. The barter industry is growing rapidly, is an integral part of the Fortune 500's business methodology and accounts for 1/4 of all business transactions concluded each day.

What does it cost to barter with GBC?

You pay a one-time membership fee and modest annual renewal fee. A small cash fee is charged with each transaction for GBC accounting, marketing, promotions, and servicing customer accounts.

How are my products or services priced?

Think of it the same way as selling for cash—except you are charging full value (retail price, MSRP, etc.) Since you are getting full cash price for your goods and services, you have extraordinary trading power, especially if you are exchanging for time that would have not have billed a penny (downtime or holes in production schedules) or goods and services that would have remained unsold.

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