Can I expect to receive trade business immediately upon becoming a member?
Not unlike the cash economy, the barter marketplace is a product of supply and demand within the group of participating companies. The more your specialty satisfies individual company needs, the greater the traffic flow will be.
Can I write off Barter Fees?
Yes, MK Global Trade fees are similar to other expenses incurred in normal business operations and can be used as a tax write off.
Do I have to trade all the time?
You decide when and how much to barter also you can trade just on certain days or products. Furthermore you can limit trading to a set amount per month or you can choose to trade during slow seasons. With MK Global Trade you’re in charge!
Do I need to pay taxes on my Barter transaction sales?
Yes. Sales made on barter are subject to the same tax treatment as cash sales. Members are responsible for collecting applicable taxes for each transaction.
How do I keep track of accounting and tax reporting information?
All members of MK Global Trade receive a monthly statement of activity for all accounting and tax purposes.
How should I price my Products/Services?
Prices quoted to barter clients are the same as prices quoted to cash paying customers. Dollar for dollar, retail to retail. Barter is simply a method of payment – just like a credit card or cash.
What are the Benefits of Bartering?
Trading goods and/or services on barter allows you to earn trade dollars you can use to build your business and enhance your lifestyle. By bartering products/ services your normally pay cash for, you preserve working capital for other expenses. By marketing your products and/or services through MK Global, you can recover revenue that might have been lost otherwise.
What are Trade Dollars?
Trade dollars are a medium used to exchange products and services with our members. The value of a Trade Dollar is that of the Canadian Dollar.
What if I already do cash business with an MK Global Trade Member?
We are not here to take your existing customers and change them over to barter. We are here to bring you new and additional business and expand your network.
Why not trade directly?
The problem with direct one-to-one trading is that two companies must first discover each other, need exactly what the other is offering and be willing to barter at a time that works best for both businesses. A membership saves you time, money and protects you by implementing fair rules, policies and procedures among members.
Why Trade Instead of using Cash?
Maximizing cash flow is a top priority of all businesses. Purchasing products and services with Trade Dollars is an alternative to using cash, which helps businesses conserve cash. You can earn trade dollars by selling your available inventory and/or services you need to run your business. Barter is not meant to replace the cash your business needs; its a way to supplement it.
Thank you for reading our FAQs! All other questions can be submitted through our Contact us page.