momtohaley2004 Posted June 24, 2008 Share Posted June 24, 2008 What can you write off for taxes when it comes to credit card processing? Is it the transaction fee or the monthly fee? I'm assuming it's the monthly fee or "rental" that you pay but what about the per transaction and % fees? i wouldn't think they are able to be written off but hey if they are that would be nice. Quote Link to comment Share on other sites More sharing options...
Quack Soap Posted June 24, 2008 Share Posted June 24, 2008 I give every single "expense" to our accountant and let her sort through it ~ that's what they're trained/paid to do We count everything ... PP fees, merchant fees, gateway fees, bank account fees, mileage to pick up supplies, utilities (you get the picture). Don't cut yourself short ~ the business doesn't run itself for free!! Quote Link to comment Share on other sites More sharing options...
barncat Posted June 24, 2008 Share Posted June 24, 2008 Rule of thumb is anything that pertains in the daily operation of business. Including any bank or credit card fees. I can even right off a trip to the Bahamas for an anunual meeting! Quote Link to comment Share on other sites More sharing options...
chevcher Posted June 24, 2008 Share Posted June 24, 2008 any fees that I inccur for the business gets written off. I ,unfortunately, didn't know that a few years ago :undecided You better believe I won't miss a thing from now on ! Quote Link to comment Share on other sites More sharing options...
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