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Old 10-14-2019, 05:19 PM   #1
Gunnyart
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Default sales tax question

Figuring my quarterly Texas Sales taxes and I realized I may have been over paying due to calculating gross sales including processing fees. I can't seem to find a straight answer but it would seem logical I should be able to deduct them from the gross.

Does anyone know for certain?
can you direct me to source material?
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Old 10-14-2019, 06:02 PM   #2
miket
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I dont know. But there is a hotline number to call to ask them directly. Its all too complicated
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Old 10-14-2019, 06:04 PM   #3
eradicator
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If you overpaid, you should get back........
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Old 10-14-2019, 06:41 PM   #4
Gunnyart
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Quote:
Originally Posted by miket View Post
I dont know. But there is a hotline number to call to ask them directly. Its all too complicated
I was about to call but realized it's Columbus day.
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Old 10-14-2019, 06:03 PM   #5
duckmanep
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Do you charge an extra fee for those using a CC and you have been including that number in your sales?

Or are you asking about the $2-$3 dollars you paid in fees per thousand dollars in sales that you want to deduct from your remittance?
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Old 10-14-2019, 06:40 PM   #6
Gunnyart
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Originally Posted by duckmanep View Post
Do you charge an extra fee for those using a CC and you have been including that number in your sales?

Or are you asking about the $2-$3 dollars you paid in fees per thousand dollars in sales that you want to deduct from your remittance?
I don't charge extra but Paypal charges me a small fee plus a small percentage per transaction
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Old 10-15-2019, 07:42 AM   #7
Radar
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Quote:
Originally Posted by Gunnyart View Post
I don't charge extra but Paypal charges me a small fee plus a small percentage per transaction
Gunny the transaction fees are deductible from your business income taxes as well as most any other banking fees you are being charged. Also you only pay sales tax on what you collect, you will need to keep transaction fees separate.


American Express is the worst as you pay 5% transaction fees on them. If you are taking credit cards or debit cards through other processors than Paypal, be sure to use as much information from the card to lower your transaction fees. Billing zip code, 3 digit security number and debit or credit, this will help lower transaction fees.

I pay between 1800-3000 dollars in transaction fees per month, it sucks. I also think Paypal business transaction fees are out of line. The state does allow a processing fee for transactions now, I personally do not care for the way people advertise their transaction fees as I think some folks are turned off by that charge. Much easier to add another 2.5% to the purchase price and keep your mouth shut.

Cash is king.
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Old 10-15-2019, 09:46 AM   #8
Gunnyart
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Quote:
Originally Posted by Radar View Post
Gunny the transaction fees are deductible from your business income taxes as well as most any other banking fees you are being charged. Also you only pay sales tax on what you collect, you will need to keep transaction fees separate.


American Express is the worst as you pay 5% transaction fees on them. If you are taking credit cards or debit cards through other processors than Paypal, be sure to use as much information from the card to lower your transaction fees. Billing zip code, 3 digit security number and debit or credit, this will help lower transaction fees.

I pay between 1800-3000 dollars in transaction fees per month, it sucks. I also think Paypal business transaction fees are out of line. The state does allow a processing fee for transactions now, I personally do not care for the way people advertise their transaction fees as I think some folks are turned off by that charge. Much easier to add another 2.5% to the purchase price and keep your mouth shut.

Cash is king.
I do track them and deduct them from income tax. I don’t like being asked to pay extra to use a cc so I don’t ask my customers to. It’s just part of the cost of doing business.
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Old 10-14-2019, 08:56 PM   #9
BowSlayer
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You have to pay sales tax on your sales before the fees. Otherwise if everyone paid with CC you would be collecting sales tax and using it to pay your fees. If you collect it as sales tax it's sales tax and not yours. Would be nice if I could deduct fees before sending in my taxes though.
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Old 10-14-2019, 10:02 PM   #10
Gunnyart
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Quote:
Originally Posted by BowSlayer View Post
You have to pay sales tax on your sales before the fees. Otherwise if everyone paid with CC you would be collecting sales tax and using it to pay your fees. If you collect it as sales tax it's sales tax and not yours. Would be nice if I could deduct fees before sending in my taxes though.
That make sense.
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Old 10-14-2019, 09:16 PM   #11
Kingfisher789
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What bowslayer said.
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Old 10-14-2019, 09:24 PM   #12
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Texas State Comptroller can answer any questions you have...
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Old 10-14-2019, 09:26 PM   #13
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Not that anyone cares, but if someone actually files a complaint to Visa/MC merchant services for you charging them a “fee” to accept their CC, they can and will take away your ability to accept cards. You agreed to the fee when you signed the merchant services agreement to accept cards.
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Old 10-14-2019, 10:00 PM   #14
Gunnyart
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Originally Posted by Trevor73402 View Post
Not that anyone cares, but if someone actually files a complaint to Visa/MC merchant services for you charging them a “fee” to accept their CC, they can and will take away your ability to accept cards. You agreed to the fee when you signed the merchant services agreement to accept cards.
I don’t charge extra.
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Old 10-14-2019, 09:41 PM   #15
sailor
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Trevor--- it's also illegal in Texas...…….
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Old 10-15-2019, 12:35 AM   #16
Playa
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Quote:
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Trevor--- it's also illegal in Texas...…….
Curious, you got a source?
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Old 10-15-2019, 07:06 AM   #17
M16
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Quote:
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Trevor--- it's also illegal in Texas...…….
It was but not now. The law was overturned.

https://www.dallasnews.com/news/watc...oull-pay-more/
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Old 10-15-2019, 08:15 AM   #18
HOOKNBULLET2
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Quote:
Originally Posted by sailor View Post
Trevor--- it's also illegal in Texas...…….

I wonder then how the Comal County tax office is able to charge an extra fee for any credit card transaction.
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Old 10-15-2019, 12:13 PM   #19
sailor
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Quote:
Originally Posted by HOOKNBULLET2 View Post
I wonder then how the Comal County tax office is able to charge an extra fee for any credit card transaction.

Because cities, and municipal tax offices are exempt...….
Yea, me and the Texas state comptroller, had a real in depth
discussion about his too...….
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Old 10-15-2019, 07:41 AM   #20
MRWHITE87
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I give a discount for cash\check/crypto vs cc payments.
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