Quote:
Originally Posted by alwann
Can businesses charging for using credit cards still deduct bank card cost as a business expense?
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Of course, the money comes in as "revenue" and the charge is an "expense".
I thought the rule had evolved? It used to be, it was illegal to charge a "convenience fee" or "CC Fee" on a Debit Card, pursuant to the Durbin amendment to the Dodd-Frank Act?
I remember reading somewhere, that there was a change and the vendor is allowed to charge "actual cost" (which is like something like 15ยข), unless the vendor is going through a couple of extra "middle men", which some do.
Both VISA & MasterCard specifically ban charging a fee, when using their system ... & almost all Debit Cards use the VISA or MC system.
As for "reporting" the transaction ... been there, did that. I reported it to the FL Attorney General, when the Tax Office in Ocala, charged me (I think) it was $6.99 for using a Debit Card when I renewed a Car Registration ... I never heard back from the AG's office.
I've been in at least 3 arguments with restaurants in the TV area over getting charged, but I just gave up complaining. It's a scam, but it's not worth raising my blood pressure.