NickfromWI
King of Splices
Approx 20-25% of our income comes from credit card transactions. Our contributions to Square Inc are quite substantial.
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nick
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nick
Payment by credit cards
- Thread starter treelooker
- Start date
- Replies 41
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treesandsurf
Treehouser
I'm guessing in the ballpark of $4750/yr nick? 
JP
JP
NickfromWI
King of Splices
$5,485 so far this year. Just checked right now for the sake of this convo
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nick
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nick
Reddog
TreeHouser
Better understand the risks of charging process fees. http://www.creditcards.com/credit-card-news/credit-card-convenience-fees-cost-surcharges-1280.php
Better to offer a cash discount.
Better to offer a cash discount.
SouthSoundTree-
TreeHouser
- Joined
- Sep 24, 2014
- Messages
- 4,941
Surcharges are also illegal in 10 states: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas.
from Reddog's link.
from Reddog's link.
emr
Cheesehead Treehouser
We checked here for wording and we're good....maybe not as far as the cc companies terms go but I don't really care about that. We do offer green cash discounts.
As I see it credit cards cost the most so we charge for it. Checks have some risk and most people pay with them so we factor that into our bids. Cash has no risk and not many people pay with it.... So.... Discount.
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As I see it credit cards cost the most so we charge for it. Checks have some risk and most people pay with them so we factor that into our bids. Cash has no risk and not many people pay with it.... So.... Discount.
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NickfromWI
King of Splices
How much of a cash discount you guys giving? I keep it at 5%. Always wonder if 10% is more reasonable and better for me. The new office manager likes everything on the up and up. We never really do cash jobs any more.
emr
Cheesehead Treehouser
5%.
Our accountant is the president of the state accounting society and she definitely want us to be legit. Figure it's an 8% difference between credit cards and cash. That's significant on anything over $1000.
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Our accountant is the president of the state accounting society and she definitely want us to be legit. Figure it's an 8% difference between credit cards and cash. That's significant on anything over $1000.
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sotc
Dormant hero!!
Ten is too much! I don't discount anymore. You discount, then you gotta drive across the valley to meet them and get paid when you should be bidding or fishing, absolutely ridiculous. We take cash if they pay the crew, bring it to the office or aren't far outta the way but no discount.
NickfromWI
King of Splices
I never offer it. If they ask (which is less than 1% of the time) I'll offer 5% and if they ask for more I tell them I'd rather have the check.
FJR
Treehouser
5% here too, but I never offer it. Cash jobs make up less than 2% of our work.
Raj
TreeHouser
Up here some companies go the other way, price is the price for cash, add % for debit or credit cards.
CurSedVoyce
California Hillbilly
I just don't do discounts. My way of figuring is that I already give you a good value for the work I am about to perform.
By my way of figuring, it will all average out somewhere.
By my way of figuring, it will all average out somewhere.
treetx
Traveler extraordinaire
A 10% discount only works if that money stays under the table.
NickfromWI
King of Splices
I would never ever do that. All income must promptly be reported to the IRS and applicable state and local governments. My success as a business owner is due mostly to their management of our infrastructure. They must have a significant percentage of the little I earn
treebilly
Student of the Jedi. OH-7106A
Well spoken. Sounds like you have been coached in legal jargon
sotc
Dormant hero!!
Yep, I agree completely
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