Coming up at the end of the year, NOW is the time to act to make sure that you are leveraging your business expenses as much as possible before the year-end.
TIPS TO MAXIMIZE YOUR TRADE DOLLARS TO HELP MINIMIZE YOUR TAX BURDEN
EMPLOYEE BONUSES and GIFTS
JTEX Gift Cards are an excellent way to reward your key employees or say “Thank You” to your entire team. These gift cards are re-loadable and give your employees access to over 500 local businesses and the flexibility for them to spend their bonus on the things they want and need! Not to forget, that keeps those JTEX Dollars flowing through our community and truly staying local.
BUSINESS EXPENSES
Minimize your tax burden this year and pay any invoices before the end of the year.
Social Media Consulting
Print and Radio Advertising
Printing needs
Business Coaching
Accountant & Bookkeeping
MEDICAL EXPENSES
If you have any remaining medical expenses that can be paid using trade and then reimbursed with cash through your MSA/HSA, now’s the time to pay those as well.
Chiropractic Care
Physical Therapy
Hearing Aids
CHARITABLE DONATIONS
By accepting donations in JTEX dollars, non-profits are able to offset burdensome operational expenses and keep more cash focused on helping those in need. Because every JTEX dollar that a business earns represents new sales through the network, JTEXs members are able to donate their JTEXdollars freely without hurting their bottom line. Just call the JTEX office to donate!
REMEMBER: Trade expenses are JUST as tax deductible as cash expenses! Speak to your tax professional for confirmation that BOTH your cash and trade expenses are tax deductible before purchasing.
We hope the following scenario helps shed some light in terms of account management.
Let’s assume that tomorrow you open an e-mail from us titled
“Please Consider New Applicant”.
You discover the new applicant is for a local Walmart. We are confident that this would create a very large stir in the membership! This would be great, right? Well maybe not. Allow me to explain.
Let’s jump ahead. Walmart’s account is open and doing a brisk trade business. In fact, their trade sales are so brisk that over the course of a few months, every member has spent every cent of their JTEX Dollars with Walmart.
Now let’s take this to the next level. Where would Walmart spend their trade dollars? They are headquartered in Bentonville, AR. They have little to no local expenses meaning they would have very little opportunity ever to spend any dollars back into the system. This would mean the JTEX economy would screech to a halt as there would be no funds available to circulate and create commerce for the membership. We would be dead in the water. Unlike the U.S. economy, we have no federal reserve to simply, and dangerously, print more dollars ($19 trillion!) if we run out. Our economy is backed by the goods and services of each other.
We share this doomsday scenario with you for this reason. Management of your trade account is one of our primary duties. When funds are stacked up in a member’s trade account and are not circulating, it tightens the JTEX Dollars for all of the members. The more our JTEX Dollars are being circulated, the more vibrant and healthy our trade economy will be for all of you!
We hope this scenario helps shed a little light as to why we are so proactive in terms of account management. As always, we welcome any questions, comments, or suggestions.
P.S. Walmart is not locally owned and would not qualify for membership even if they did apply!
Here’s a good look at how The Bugman uses trade as a business strategy.
Paul Salvant AKA “The Bugman ” has been involved in trade for over 17 years and is a charter member of JTEX. This graph shows how they spend their trade dollars. Ask Paul, you can do that too! Paul says“I use trade for so many things, I lose track. My staff love it too, they are often paid in trade dollars.”
For many small businesses struggling with low demand and slow cash flow in the wake of the a tough economy, an age old idea could drive new business: barter. The 200 plus members of Jambalaya Trade Exchange can conserve cash and expand reach by selling their products and services on its exchange for trade dollars accepted by fellow members, says Tim Bergstresser Executive Director of Jambalaya Trade Exchange (JTEX). JTEX was established in 2012 in Ascension Parish, LA ., and is an independent trade exchange that is a part of the Trade Authority network of trade exchanges. Local exchanges are now in 13 cities through the southeast region of the USA. Trade Authority facilitated over $20 million in business-to-business trades last year and it’s member exchanges have over 3200 members..
Barter is an age old idea, and seems to be catching on with businesses in Ascension Parish. Why?
The idea of barter of trade, hasn’t reached anywhere near critical mass. But it’s really catching on. The main obstacle to organized barter, like JTEX, is a misconception about the word “barter.” People still think about barter like trading a peanut-butter-and-jelly for a salami sandwich at the school lunch table. That’s direct trading.
Barter within an organized exchange network like JTEX, is not a direct trade between two members; that’s all wrong. It’s a system that allows payment for goods or services in trade dollars that can be spent with anyone else in the system, which opens worlds of possibilities. In our simplest form, we are merely a payment-processing system that aggressively sells for member businesses and promotes those businesses to other members.
How does a barter transaction work?
Let’s say we have a member who needs dental work. Using our member directory they can choose a local Dentist, make and appointment and get their work done. Payment is made using their membership card. When processed, trade dollars are immediately transferred from the buyers account to the Dentists account. Pretty simple. The Dentist now can use those new trade dollars with any other member business he(or she) chooses.
What are trade dollars?
That’s the currency we use. A member pays $395 to open an annual membership with us and they start with an interest free line of credit. This allows them to begin trading even before they receive business. Our staff gets to know that business and helps them start earning trade dollars. The Inflatable company might say that the month of February is a light time for them, so we begin promoting them and drive customers to them in February from within our network. When one of our members rents a bounce house they pay with trade dollars. The Inflatable owner puts those dollars into his budget or uses them later for anything else. They get a balance statement every month through our online program. Additionally they can authorize transactions online to make or accept payments, like putting through a credit-card payment.
How does JTEX make money?
Two ways. First is the first years membership fee of $395. This is paid in cash. the subsequent years renew at T$200 , paid in trade dollars. The second way is transaction fees. There is a 10% fee for every purchase made. Each member has a Cash Reserve Account (CRA) where cash is loaded using a credit card. Whenever a member makes a purchases, the 10% fee is drawn from the CRA.
Which businesses take advantage of barter?
Has your membership been growing?
There’s no question that we have been getting more attention from the local business community in the past few years. Our membership has grown by about 50 a year in the past 4 years. We continue to seek businesses that fit the trade model.
What are the tax implications of barter transactions?
In 1982, the IRS recognized barter as legal tender and barter exchanges as third-party record keepers, like accountants and banks. The exchanges must report barter income to the IRS on form 1099B. We issue these each year in January.
Have you heard about any unusual trades made by members?
One of our members recently got married. His fiancee (now wife) took on the task of using trade to cover as many wedding expanses as possible. She was very successful and used trade to pay for wedding rings, the venue, catering, her wedding dress , presents, photography and the honeymoon trip. Not bad! I’d to say she is a Ninja Trader!
Members of no-cash networks say it’s a great way to market their businesses.
Hugo Flores has paid $2,000 for dental work, $650 for veterinary services and $750 for a weekend a resort condo in Destin — without spending any cash, swiping any cards or writing any checks. He did however, paint a few buildings. Hugo Flores’s painting company Master Hand’s Custom Painting, is a member of Jambalaya Trade Exchange in Ascension Parish, one of over 200 businesses in the Parish that participate in a trade marketplace.
Companies — everything from restaurants to marketing firms to landscaping companies to auto-repair shops — offer their goods and services to others in the network.
They spend the “trade dollars” they earn from the work at other businesses.
Bartering is hardly new; an age-old way to trade goods and services. It has moved into the mainstream thanks to professional barter exchanges that provide a venue for swapping goods and services, getting rid of excess inventory, turning downtime into revenue and attracting new business.
Here’s how a barter exchange works: A business offers a good or service for trade and in return, receives a trade credit based on the dollar value of that offering. That credit can then be used to “purchase” a product or service from someone else in the barter system. While no money is exchanged, these deals are considered cash transactions and must be reported as income.
“The people who really who really benefit from who really benefit from Trade Exchanges are people who are looking for new customers and are flexible in their buying habits–they’ll change where they buy their printing and the pest control company they’re going to use,”explains Tim Bergstresser executive director of the Jambalaya Trade Exchange .
Barter was once limited to specific geographic regions, but thanks to the internet, barter exchange members can now trade with members in Ascension Parish, Baton Rouge, New Orleans, Lafayette, Slidell, Lake Charles, Memphis and even Birmingham.
“When someone joins an exchange they’re exposed to hundreds of new potential customers locally and thousands around south Louisiana.
“With competition so stiff today, barter helps drive those customers past your competition and into your door.”
Here’s a good look at how Diez Tire of Prairieville take full advantage of Trade
Derek and Tasia are planning on a spring wedding. She has found a way to use trade to pay for the lion’s share of the wedding expenses – You’ll need to meet and visit with Tasia – she is a barter wizard!!!
Here’s a good look at how Nooley’s take advantage of Trade
Charmin and Jacob have been members of JTEX for over three years. This graph shows how they spend their trade dollars on items they used to spend CASH on! You can do that too! Jacob says“before we buy anything, we always check the JTEX directory to see if we can trade for it. If we can’t find it on the list , we call Tim and ask him to look for it”
The Jambalaya Trade Exchange is a member of the Quiktrade group of Trade Exchanges. Our trade currency is reciprocal among the 3000+ member businesses. This reciprocal arrangement greatly enhances the value of your JTEX trade dollar allowing you a rich diversity of businesses which you may do business.
Always check your member directory to learn who is currently available for reciprocal trade. The availability of our members for trade can change from time to time based on a businesses ability to accept additional trade dollars. Additionally, some members may be on standby – use your Quiktrade mobile appto check on the go!
Our current partners are – PartnersOne – Baton Rouge, Trust Acadiana – Lafayette, Bux Exchange – Lake Charles, B2B Trade Partners – Birmingham AL, TradePartners – Memphis, TN. and CrescentCity – New Orleans, iTrade Exchange – Denham, LA
It can save cash, net full value for idle goods and services and significantly expand your customer or client base. But in the past, there was a drawback—some businesses struggled to find trading JTEX whose needs exactly matched their own. No longer. With JTEX, you don’t have to find a “one-to-one” trading partner. Instead, you can trade what you have to get exactly what you need. Here’s how it works. After joining JTEX, let’s say you need advertising for your printing company. An accountant wants letter head stationary and purchases printing from your company through JTEX. Now you can use the Trade Dollars from the sale of your services to buy anything available through JTEX—including, of course, the advertising you’ve needed. Simply search among the listings of businesses withJTEX to find the product or services you want. Present your JTEX Barter Card and make your purchase—in Trade Dollars! How do we do it? JTEX is a part of a huge community of buyers and sellers from all across the South, providing you with a powerful, alternative sales channel and a vast network of purchasing options. Through the Internet, JTEX makes it easy for buyers and sellers to find each other, with instant posting, and 24 hour-a-day access.
Using JTEX you can expect:
New Business
Increase Sales
Alternative Financing
Improved Cash Flow
Competitive Edge
Market Share
Record Keeping
Jambalaya Trade Exchange is a Member-Owned Trade Exchange operating in and around Ascension Parish Louisiana.
Contact Info
Jambalaya Trade Exchange
17188-K Airline Hwy,
Prairieville, LA 70769
How Top Traders Spend
For many small businesses struggling with low demand and slow cash flow in the wake of the a tough economy, an age old idea could drive new business: barter. The 200 plus members of Jambalaya Trade Exchange can conserve cash and expand reach by selling their products and services on its exchange for trade dollars accepted by fellow members, says Tim Bergstresser Executive Director of Jambalaya Trade Exchange (JTEX). JTEX was established in 2012 in Ascension Parish, LA ., and is an independent trade exchange that is a part of the Trade Authority network of trade exchanges. Local exchanges are now in 13 cities through the southeast region of the USA. Trade Authority facilitated over $20 million in business-to-business trades last year and it’s member exchanges have over 3200 members..
How Top Traders Spend
