LinkedIn is hoping to let its users tap into their professional network across the Web.
On Monday, LinkedIn will make its technology available to software developers who want to use it in their own sites and applications. By incorporating information about someone’s professional profile and connections, LinkedIn can make those sites more useful, said Adam Nash, LinkedIn’s vice president of search and platform products.
Jeff Weiner, LinkedIn’s chief executive, has said he wants the site to be the hub of all conversations about business on the Web. LinkedIn’s recent partnership with Twitter was one step in that direction, and this is another. As more businesses use Web-based applications for professional communication, LinkedIn wants to be there, Mr. Nash said.
A few developers have already been experimenting with LinkedIn’s new platform. Microsoft is integrating LinkedIn into its 2010 version of Outlook e-mail. TweetDeck, the Web-based Twitter application, will let people do things like view other Twitter users’ LinkedIn profiles and post and reply to LinkedIn updates from TweetDeck.
LinkedIn has let some companies build applications on its Web site. Amazon.com, for example, shows LinkedIn users which books others in their professional network are reading and lets users post a list of recommended books.
LinkedIn has also let some developers create applications for other Web sites using its technology on a case-by-case basis. Xobni, the Outlook e-mail plug-in, pulls photos and titles from LinkedIn, for example. The New York Times Web site offers readers who are also LinkedIn members a list of articles that pertain to their industry.
“We tried to use each of those partnerships to figure out, where can LinkedIn add the most value to how you use business applications?” Mr. Nash said. “What we see happening is an increasing demand for business applications, and we think that LinkedIn uniquely has the right quality of content.”
Bartering is the trading of one product or service for another. Usually there is no exchange of cash. Barter may take place on an informal one-on-one basis between individuals and businesses, or it can take place on a third party basis through a modern barter exchange company.
Bartering is the most ancient form of commerce. While our ancestors may have exchanged eggs for corn, today you can barter computer services for auto repair.
Another example of a one-on-one, non-barter exchange transaction is a plumber doing repair work for a dentist in exchange for dental services. The fair market value of the goods and services exchanged must be reported as income by both parties.
Here are a few things you should know about bartering:
• Barter Exchange A barter exchange functions primarily as the organizer of a marketplace where members buy and sell products and services among themselves. Whether this activity operates out of a physical office or is internet based, a barter exchange is generally required to issue Form 1099-B, Proceeds from Broker and Barter Exchange Transactions, annually to their clients or members and to the IRS.
• Barter Income Barter dollars or trade dollars are identical to real dollars for tax reporting. If you conduct any direct barter – barter for another’s products or services – you will have to report the fair market value of the products or services you received on your tax return.
• Taxes Income from bartering is taxable in the year it is performed. You may be subject to liabilities for income tax, self-employment tax, employment tax, or excise tax. Your barter activities may result in ordinary business income, capital gains or capital losses, or you may have a nondeductible personal loss.
• Reporting The rules for reporting barter transactions may vary depending on which form of bartering takes place. Generally, you report this type of business income on Form 1040, Schedule C Profit or Loss from Business, or other business returns such as Form 1065 for Partnerships, Form 1120 for Corporations, or Form 1120-S for Small Business Corporations.
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