As the new year approaches, many small businesses are bracing for a rude awakening. The 1099-K is here and the latest reporting requirement from the IRS is designed to eliminate unrestricted income for small businesses that use credit cards. The new tax laws for issuing 1099s will bring about an unprecedented change in the way…
The news this week is that many banks in the United States and the United Kingdom have banned the use of credit cards to buy cryptocurrencies (CC). The stated reasons are impossible to believe – such as money laundering, gambling, and trying to protect the retail investor from excessive risk. Interestingly, banks will allow debit…
Credit cards and merchant accounts have changed the way people shop and companies do business. Some people remember the days without “plastic”. Credit cards were first used in the 1920s. Hotels and oil companies offered cards to their customers, but they were more like today’s “loyalty” cards than credit cards. The first real credit card…
When was the last time you went shopping with a pre-planned budget? Do you remember the last time you reached into your pocket for some cash to pay for your purchases instead of relying on your plastic money. We have to take initiative to save money for our future and also start budgeting our expenses….
By: Jim Randall (2010) ISBN 978-0-9818935-4-9 Book Price: $14.95 Plain-English, entertaining, explanation of important topics Jim Randall is an attorney and entrepreneur who has spent thirty years studying the topics of financial literacy and personal achievement. After years of studying how people learn, RAND Publishing created The Skinny On series of books to provide plain-English,…
Since the beginning of time mankind has invented and developed new ways to trade and do business. Credit cards are not a new concept. The first credit cards were introduced by American Airlines and the Air Transport Association in the mid-1940s to promote air travel. Later banks and financial service providers served their customers. The…
Presently there are a huge number of consumers who crave for a valid credit card debt settlement due to various reasons. However, the main reason for this has been the economic crisis seen in the world recently. Factors like inflation have taken away the consumers from their strong financial base leading to many problems. However,…
There are several legal strategies available to you that can help you clear your credit debts. In a recent survey, it was found that more than 95% of bankruptcies that are filed in the United States are due to credit-card debt. There are methods you can use to wipe out, for example, 60% of your…
Payment gateway is a term that everyone who deals with credit card processing is familiar with. With the rise in electronic means of money transactions, paying through debit or credit cards has become a common occurrence for most of us. But it is important for traders and small businesses to understand the intricacies of transferring…
If you do not want to pay hefty credit card processing fees, you may find this article helpful. According to small businessmen, paying hefty fees for card processing is becoming a burden. Figures released by the Bureau of Labor Statistics show that half of startups fail within the first 48 months. According to predictions, the…