Can I use BizXchange to purchase personal items?
Absolutely! Many members regularly use their business BizX account to purchase personal products and services and this is great and very cost effective way to use your BizX dollars to improve your personal life. Using BizX for personal expenses also allows you to leave cash in your business which increases your cash flow. Generally, members use their BizX account to purchase personal items and then: • Reimburse their business from the costs to the full value of the purchase. • Include a BizX allowance or the cost of the purchase as part of their compensation package. One of the benefits to purchasing personal items through your business BizX account is that you typically need to reimburse or account for these expenses at your variable cost or cost of goods (see What are variable costs?). This represents significant savings to you and, on top of that, you are paying for purchases with new sales brought to you through BizXchange! We encourage you to consult a CPA or experienced professio
