How Barter Works
1. You Need Customers
2. Cashflow is Low
3. Shift the Scales
4. Live Your Dreams
Frequently Asked Questions
What is Barter?
- You provide a service or sell a product to someone on the ITEX barter network.
- They pay you in ITEX dollars.
- You then turn around and find a product or service that will help your business (or your personal life) and then you purchase from them.
- Your account is debited for the amount purchased.
Why do I need Prime Trade NW or ITEX to barter?
What about paying taxes on bartered and traded items?
The IRS considers Prime Trade NW / ITEX as the record/bookkeeper for our members. The IRS and States treat trade exchanges just like they would any cash account. Bartering doesn’t exempt you from paying tax, instead is functions as an additional taxable revenue stream available for your business.
Your ITEX account should be treated like you would any other account when doing your taxes. You get monthly accounting statements and are emailed transactions as they happen. At the end of the year, we issue 1099B’s for reporting at the federal level.
How do I get started?
How much does it cost to be a member of Prime Trade NW?
- You sell a service or product to another ITEX member for $1000.
- You then purchase a service or product within the network for $500
- Your total fees for close that month will break down as follows:
- $25 Monthly Membership Fee
- $60 Transaction Fee for the $1000 purchase (6%)
- $31.20 Transaction Fee for the $500 sale
- Total cash fees for the month: $116.20
- Value of products and services traded: $1500
How does barter help me grow my business?
- You have products or services for sale.
- You try traditional advertising, but don’t yield new customers.
- You place an ad on ITEX and you get a call and convert a prospect into a customer.
- They pay you in ITEX and tell you that they may not have purchased from you if it were a “cash” purchase but because it was ITEX they had low risk and high value in what you were selling.
- You make a new customer that you can maintain with ITEX bartering, or you can convert them to a cash customer.
- They refer you to others, which helps grow your business!
Ready To Learn More?
Connect with us below or click below, enter your information and get started.