FAQ
Who thought of this concept?
Barter has been around for centuries. By organizing barter and acting as third party record keepers, ITEX has revolutionized the way businesses participate in the barter community.
ITEX brings you new business that you would not ordinarily have.
ITEX offers you a venue to present your goods or services to the ITEX member community.
ITEX handles all the record keeping for a small fee.
Is this Multi-Level Marketing?
Not at all…
ITEX trading/barter is based on single level, lateral marketing facilitated through a personal ITEX trade director who will saturate information about your business nationally or locally based on your individual needs.
Is this legal?
ITEX has been in business for 25 years. We are a public company, monitored by the SEC and fully reporting to the IRS*.
*The IRS has designated ITEX as a third party record keeper. Each year you will receive a 1099-B representing the income/volume of business that ITEX has brought to you. By law, that information is also reported to the IRS.
Do I have to pay taxes?
As in the cash world, all income used for business expenses is deductible. After each ITEX billing cycle, you will receive a statement showing your sales and purchases through the ITEX system. Your accountant can advise you as to which business/personal items traded/bartered are taxable.