sales tax question

[MRWHITE87]

I give a discount for cash\check/crypto vs cc payments.

[Radar]

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.

[HOOKNBULLET2]

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.

[Gunnyart]

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.

[sailor]

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...….