F.A.Q
Q. What types of things can I sell at MyEQUITRADE.com?
A. MyEQUITRADE.com is a marketplace for personal property, real estate, and personal services. We prefer not to see garage sale type items posted on the Trading Floor but instead we hope to see vehicles, boats, RVs, musical instruments, electronics, furniture, appliances, jewelry, beach house rentals, timeshares, or just about anything else of value that you can’t use. This could include tickets to a game or concert that you can no longer use or even an unused airline ticket. You may design websites in your spare time, teach music lessons, bake cookies or even photograph weddings. These are all products and services that are in demand by other consumers and business owners.
Q. What are some examples of things that I can buy at MyEQUITRADE.com?
A. The possibilities are really endless if you keep in mind that businesses barter because they have excess and because they have a reasonable markup in their product. Services that are related to time and space are perishable and are always easy to secure with barter. There are always good choices of restaurants, travel opportunities, entertainment, home improvement services, health and beauty services as well as products that you may have put off buying for a lack of resources. The availability of products and services changes frequently as new members join and new businesses update their offers so check back often if you don’t see something you want today.
Q. What if I can't find the items that I want to buy?
A. If you are looking for a new car, new appliances, groceries, gasoline, new computers or a new TV then you have come to the wrong place. These types of items are not available with barter dollars because the wholesale cost to the seller is extremely high. Instead, think of other items that you are purchasing on a regular basis that are readily available with barter dollars and save your cash by bartering for those items. Then take the cash that you saved and apply it towards the new car or new appliance that you really wanted. MyEQUITRADE.com is a way to market your excess and use the value of your idle asset to purchase somebody else’s excess.
Q. Is barter taxable?
A. Yes, the IRS recognizes barter income and taxes it just like cash. As third party record keepers, we are required by the IRS to report your barter sales. We will send you a Form 1099B at the end of the year, which documents all your barter sales. Obviously, if you are selling your own personal property and you have not made a profit there is no taxable event. However, the sale of real estate may result in a capital gain. Consult your tax advisor for advice on how to report income from the sale of your own personal property.
Q. What is the difference between Barter and Trade?
A. Nothing. Some people call it barter and some call it trade. The two terms are interchangeable.
