Card Processing Fees are Tax Deductible

It’s almost tax season and it’s time to round up all your debit and credit card processing statements for the last year.  If you are missing them, then it’s time to call up your provider and get them.  Whatever your payment processing costs are,

you might be losing monthly cashflow for that amount that you pay in fees, however, you might not be losing that monthly cash amount if you get most of that back eventually.  You have to have a knowledgeable accountant to determine how much of your card processing fees  can be deducted based on how your company is set up (sole propreitor, corporation, etc.) and your specific situation.  Just because some expenses can be deducted, does not mean that this is a good reason for you to accumlate unnecessary expenses.   We can give you a Rate Analysis of your current processing situation and help you dramatically reduce your monthly processing costs.

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