Frequent Asked Questions

 

FAQ:  Here are most Frequent Asked Questions about AllCity Barter:

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Question:

How Much Does it Cost to Join?

Answer:

NOTHING!!!!!!!

We have WAIVED the $795.00 set-up fee, WAIVED our $99 yearly fee and WAIVED our $10 maintenance cash fee.  There is a $10.00 monthly AllCityTradeDollars maintenance fee which is deducted from your AllCityTradeDollars account each month.

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Question:

How Do I Join AllCity Barter? 

Answer:

Click on the “JOIN NOW” link on our AllCity Barter website.  Complete the Membership Form, click “Submit” and one of our brokers will confirm your application and activate your account the same day.

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Question:

What are the Benefits of Joining AllCity Barter?

Answer:

Immediate Nationwide Exposure to Sell your Product or Services

 

Increase your Buying Power Without  Jeopardizing your Cash Reserves

 

Huge Growth Opportunity for your Business

 

Increase Profits by Decreasing the Cost of Doing Business

 

Easy-to-Use State-of-the-Art Web-Based Technology

 

Enhance your Personal Quality of Life

 

FREE Lifetime Membership to your Local AllCity Chamber

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Question:

How Do I Price My Products or Services?

Answer:

You need to price your products or services to AllCity Barter Members exactly the same prices quoted to your cash customers.  NO Price Gauging!

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Question:

Can I Charge/Accept Part Cash and Part Trade For My Products/Services? 

Answer:

Transactions MUST be completed 100% in AllCityTradeDollars.   If you are discuss purchasing a product or service with any AllCity Barter Member and they request any part of the transaction to be in cash, PLEASE notify us immediately and the members will be contacted to either correct the issue or remove them from the barter membership and website permanently.

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Question:

How Can AllCity Barter Help Me Sell My Products/Services?

Answer:  

Your company will be introduced to thousands of new members across the country ready and ready, willing, able and extremely eager to spend their AllCityTradeDollars.  You will also receive the FREE membership with our Partner, AllCity Chamber, who is a National Networking Organization, to help you build your cash customers as well.

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Question:

How Do AllCityTradeDollars Get Into My Account?

Answer:

When you place your product or services on the websites “TradingFloor”, the buyer would click on the item you are selling and then click on “Purchase”.  You will receive a purchase request, accept this and if the funds are available in the buyers account, the AllCityTradeDollars will be transferred automatically into your trade account.

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Question:

Are There Any Tax Advantages Using AllCity Barter Instead of Cash?

Answer:

Barter income is considered to be the same as cash income for tax purposes.  Trade purchases that are business related are tax deductible to the full extent allowed by law.

(Please review with your Tax Specialist for the correct law in the state you reside.)

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Question:

Do I Need To Incorporate my AllCityTradeDollars in my Tax Return? 

Answer:

The following is information you need to know about AllCityTradeDollars transactions and state and federal taxes. Please read it carefully.

AllCity Barter sales, like cash sales, must be included in income reported to the IRS.

 

When you receive and spend AllCityTradeDollars (also called barter credits, barter units, etc), there are tax consequences just as though you were using cash. See your tax advisor for more information.

 

The TEFRA Act of 1982 designated exchanges and marketplaces, such as AllCity Barter, as third-party record keepers on par with banks, credit card companies, and other custodians of taxpayers’ financial records.

 

Exchanges also have a responsibility to provide the IRS with information on the barter sales of each member. This is done on form 1099-B, “Proceeds from Broker and Barter Exchange Transactions.” You, as the taxpayer, are required by law to give your barter exchange your taxpayer identification number (either your Employer Identification Number or your Social Security number) which is needed to prepare the Form 1099-B.

 

Some frequently asked question regarding AllCityTradeDollars transactions and income taxes:

 

Q: Are there any tax advantages or disadvantages?

A:  AllCity Barter revenue should be viewed the same as cash. There are no inherent tax advantages or disadvantages because you use AllCity Barter. The network is a marketing tool, not a tax tool. Generally speaking, as with cash income, AllCityTradeDollars purchases that are business related are deductible. Consult your tax advisor for further clarification.

 

Q:  What constitutes income in AllCity Barter transactions?

A:  AllCity Barter revenue is earned by members when AllCityTradeDollars are posted to your account.

 

Q:  In what year are AllCityTradeDollars taxable?

A:  AllCityTradeDollars earned from your AllCity Barter sales should be included as income for the tax year in which they were earned.

 

Q.  How do I know how much AllCity Barter income to include in my tax return?

A.  At the end of the year AllCity Barter will compute the proceeds from your sales and

submit this information to the IRS on a form 1099-B. AllCity Barter will supply you a copy of this form or some equivalent documentation.

 

Additional Questions? Contact your Tax Advisor.

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Question:

What Happens if I Find Something to Purchase and I Don’t Have Enough AllCityTradeDollars In My Account?

Answer:

AllCityTradeDollars credit lines are set up for members exactly how a bank would give you a credit line. You would click on the “Credit Line Increase” link on the AllCity Barter website as this will explain what is needed to apply for the AllCityTradeDollars credit line increase.  Normally, you will have an answer to your request the same day.

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Question:

Any Other Options to Use My AllCityTradeDollars Besides Purchasing Products or Services on the Website?

Answer:

Employee Benefits & Bonuses:

Add to the benefits package by allowing your employees to use barter dollars for non-covered medical and dental expenses.  You can also set up sub accounts for your employees to reward them in barter dollars.

 

Advertising:

Know the value of advertising and marketing to bring in new customers to your business.

Instead of using your hard earned cash use AllCity Barter dollars instead!  Using AllCity Barter dollars gives you a tremendous advantage over your competition.  

Your Broker can help you find local, regional or national advertising opportunities to help your business.

 

Member Thank-You Gifts:

It is less expensive to keep a current member than it is to get a new member.  Why not say thank you to members?  Not just at holidays but anytime – it’ll make their day.

 

Business Operations Improvements:

How your business operates directly impacts sales and your bottom line.  Use your AllCity Barter dollars to run special seminars for employees, put organization systems in to your operations, and find out how your employees really treat your customers and more.

 

Fun Days:

Everyone needs a break now and then.  Whether it is treating your employees (and yourself) to in-office chair massages or having an office party or doing something wild and crazy, like astrology charts aura readings.  A fun day makes all the days better.  So use your barter dollars and have some FUN.

 

Vacation:

Everyone needs a break – especially business owners!  AllCity Barter can offer everything from quick weekend getaways to week-long vacations in exotic destinations.  Our travel section lists some available vacations.  There are also listings of available accommodations worldwide.  Remember, we are not a travel agency and therefore we need plenty of advanced notice to help you plan your getaway.

 

Personal Services:

Haircuts, facials, massages to car repair to home improvement projects and everything in between.  Check with your AllCity Barter Broker before spending cash on anything.

 

Professional Services:

Successful businesses have a team of outside professionals like bookkeepers, accountants, attorneys and more helping them to run the company.  Why spend cash when AllCity Barter has some of the finest professional services as members of our exchange.

 

Anything Else:

Before spending cash, call your broker.  

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Question:

How Does AllCity Barter Make $$$$$$? 

Answer:

We implement our 7% Transaction Fee for every buy and sell transaction. This fee is AllCity Barter’s ONLY cash producing fee and is necessary to keep the website operation and our employees happy.

 

DON’T FORGET - We have WAIVED the $795.00 set-up fee, our $99 yearly fee and our $10 maintenance cash fee for all of our members.