While people have been trading longer than they have been using money, there are still a lot of questions about how trade works, and how Western Trade Alliance manages its network. Please click on the questions below to learn more!
Frequently Asked Questions
What is WTA?
WTA is a community of thousands of business owners who are able to barter for goods and services amongst each other without spending cash. Instead, they use our very own private currency. The benefits are simple: they each earn new customers that they wouldn’t have had, and get to buy things they need without spending their hard-earned cash.
WTA is a community of thousands of business owners who are able to barter for goods and services amongst each other without spending cash. Instead, they use our very own private currency. The benefits are simple: they each earn new customers that they wouldn’t have had, and get to buy things they need without spending their hard-earned cash.
What is a WTA dollar?
A WTA dollar’s value is equal to the US dollar and is used to record the value of every transaction. Transactions are posted to member accounts as credits (sales) and debits (purchases), and are recorded pursuant to the Trading Procedures, Policies, Rules and Regulations of WTA and IRS regulations
A WTA dollar’s value is equal to the US dollar and is used to record the value of every transaction. Transactions are posted to member accounts as credits (sales) and debits (purchases), and are recorded pursuant to the Trading Procedures, Policies, Rules and Regulations of WTA and IRS regulations
How is WTA saving me money?
When you purchase goods & services with your WTA dollars, you save cash. So a $10,000 expense that – instead of writing a check – you are able to pay for with WTA dollars that you earned from new customers, means $10,000 cash stays in your bank account.
When you purchase goods & services with your WTA dollars, you save cash. So a $10,000 expense that – instead of writing a check – you are able to pay for with WTA dollars that you earned from new customers, means $10,000 cash stays in your bank account.
What are the benefits of a WTA membership?
By joining WTA , you are agreeing to accept an additional form of currency for payment. WTA will market your business to thousands of other members, delivering you new customers to purchase your products or services, who pay you in WTA dollars. You are then able to redeem this new WTA revenue with any other member in the network for goods & services you need. The impact to your business is new customers & improved cash flow when you regularly buy and sell with WTA. And most importantly, when you spend WTA dollars, you purchase goods & services at your own cost of goods
By joining WTA , you are agreeing to accept an additional form of currency for payment. WTA will market your business to thousands of other members, delivering you new customers to purchase your products or services, who pay you in WTA dollars. You are then able to redeem this new WTA revenue with any other member in the network for goods & services you need. The impact to your business is new customers & improved cash flow when you regularly buy and sell with WTA. And most importantly, when you spend WTA dollars, you purchase goods & services at your own cost of goods
Is WTA Legal?
Yes – WTA is safe and legal. In 1982, Congress passed the Tax Equity Fiscal Responsibility Act (TERFA), which stipulates that all barter revenue earned is to be treated as income in a taxable year. The IRS sees WTA as a Third-Party Record Keeper. Every year, we report all transaction data to the IRS, and issue 1099-B forms to our members to do their own reporting. Revenue is revenue, expenses are expenses.
Yes – WTA is safe and legal. In 1982, Congress passed the Tax Equity Fiscal Responsibility Act (TERFA), which stipulates that all barter revenue earned is to be treated as income in a taxable year. The IRS sees WTA as a Third-Party Record Keeper. Every year, we report all transaction data to the IRS, and issue 1099-B forms to our members to do their own reporting. Revenue is revenue, expenses are expenses.
Is there any tax advantages?
There are many advantages to using WTA, but tax avoidance is not one of them. There are no tax advantages or disadvantages to joining WTA.
Sales tax is paid by the purchaser in USD dollars.
There are many advantages to using WTA, but tax avoidance is not one of them. There are no tax advantages or disadvantages to joining WTA.
Sales tax is paid by the purchaser in USD dollars.
Need a line of credit?
WTA gives all new members a $500 lines of credit. You can apply for more by contacting your account manager. The amount of credit extended is decided between WTA & the member, and takes into account several factors, focusing on the likely ability of that member to generate sales based on their geography, industry, and sales. There is no credit check or inquiry. Credit lines in excess of $5000 may require additional collateralization or personal guarantee. As a general rule, WTA will extend 50% of a member’s target annual sales volume (a company that can do $50,000 in annual barter sales qualifies for a $25,000 line of credit).
WTA gives all new members a $500 lines of credit. You can apply for more by contacting your account manager. The amount of credit extended is decided between WTA & the member, and takes into account several factors, focusing on the likely ability of that member to generate sales based on their geography, industry, and sales. There is no credit check or inquiry. Credit lines in excess of $5000 may require additional collateralization or personal guarantee. As a general rule, WTA will extend 50% of a member’s target annual sales volume (a company that can do $50,000 in annual barter sales qualifies for a $25,000 line of credit).
