Global Trade Barter Support System

Understanding Bartering and Trading

Uniqueness Of FEN:

One of the many unique features of FEN is that we back our currency. We can easily zero your account for you and convert it to a local currency (eg U.S. or Canadian Dollars). If an account is too high or you need cash, then you have the same option. Please see Terms. Click Here

Charity Donations:

Make contributions to your favorite charity, church, or team, and invite them to enjoy a membership and save money for their needs. Barter donations are fully tax deductible just like cash.

Tax Implications:

The IRS now requires barter exchanges to be reported as per the Tax Equity and Fiscal Responsibility Act of 1982. Barter exchanges are considered taxable revenue by the IRS and must be reported on a 1099-B form. According to the IRS, "The fair market value of goods and services exchanged must be included in the income of both parties."

Other countries though do not have the reporting requirement that the U.S. does concerning proceeds from barter transactions, but taxation is handled the same way as a cash transaction. If one barters for a profit, one pays the appropriate tax; if one generates a loss in the transaction, they have a loss. Bartering for business is also taxed accordingly as business income or business expense. We recommend you speak to a accountant familiar with the bartering laws. Feel free to email any questions to us and we will be happy to help.Close and return