At the beginning of each year, business owners look ahead and focus on what’s next in store for their business. One task on that list is filing taxes. For merchants who have done a good job of tracking receipts and documenting business expenses, this task is much easier. And for everyone else, it’s pulling reports and compiling information to provide to a financial accountant by the dreaded April deadline.
Processing Fees Are Tax-DeductibleFor many merchants, the idea of claiming credit card acceptance fees as tax deductible wouldn’t cross their minds. But it should. The IRS recognizes merchant fees (commonly referred to as credit card fees) as an essential operating cost. So, that means that yes, businesses can claim the merchant processing fees they’ve accrued the year prior as a tax-deductible expense.
Both individuals and businesses have the potential opportunity to deduct expenses from their gross income to lower the amount of money they pay in annual taxes to the Internal Revenue Service (IRS). The provisions and deduction procedures for individuals and businesses are different so it is important to understand which ones apply. In general, pretty much anything pertaining to a credit card is not tax-deductible as a personal itemized deduction but is tax-deductible for a business.
Details on Processing Fee DeductionsThe IRS has a detailed breakdown of changes, exceptions, and points of note in their Publication 535. This publication gives businesses everything they need to know about business expenses and tax season. In summary:

• Merchant service fees are a tax-deductible cost of running a business.
• Businesses can deduct the full cost of merchant services fees on line 17 of their Schedule C (Legal and Professional Services) form.
• Merchant processors are required to provide a 1099-K no later than January 31st, detailing the payment card and third-party network transactions – this will also have the details needed to deduct the fees on a Schedule C.
• The deduction doesn’t affect a company’s total tax liability; the tax deduction is subtracted from its gross earnings which will lower the total taxable income amount.
• Businesses are eligible to deduct credit or debit card processing fees associated with paying taxes, but individuals are not.

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Level Up to Save MoneyBehind the scenes, credit card transactions are processed in tiered levels—1, 2, 3, and Large Ticket. This matters because the higher the level, the lower the interchange fee. We can help you level up!

More Data = Less Revenue Lost to FeesCredit card networks give the lowest interchange rates to companies that provide the most detailed customer and transaction data with every payment processed. That’s because more data translates to less risk. The more data provided, the higher the processing level.
The great news is that we can automatically populates the necessary data fields for you to process at the optimum level. Our technology fills in the details; you pocket the savings.
And if you accept large credit card payments for B2B invoices or high-ticket consumer purchases? Our payment gateway routes and qualifies these transactions for Large Ticket processing, a special category that also charges lower interchange fees.

Contact us to learn more. 

The days of mailing checks, trying to collect past due payments, and checking the PO box are numbered. Today, the Business-to-Business (B2B) industry can pay a bill, send an invoice, receive a payment, and run a card in an instant. Thanks to modern technology, the power of processing payments has now been optimized for mobile. All it takes is a tap or swipe on a touchscreen.
B2B mobile payment processing systems have gone from a cool new tool to a downright necessity. And in this fast-paced world, solutions that are quick, secure, and efficient are imperative for customer satisfaction, financial security, and business efficiency. Payments executives and chief financial officers want more from their business payments than just making them digital; they expect an experience that mimics the ease and convenience of retail payments.



How Mobile Apps Expedite TransactionsIt’s easy to understand why suppliers want online portals. There is a benefit in knowing where payments are in any point during the transaction. B2B mobile apps can give customers access to a credit line right away so that they don’t have to wait for a physical card. The customer is then able to buy online, in-store, or call a salesperson at their convenience. This method alleviates the need for the merchant to update their POS system and the client gets to pay the way they want to. Apps can also offer multifactor authentication. This transparency helps build trust between buyers and their suppliers.
B2B Apps Give Firms a Competitive EdgeB2B app solutions need to accommodate the varying needs of small-to-medium sized suppliers as well as large enterprises and that is why flexibility is imperative to be successful. The different industries that these solutions must cater to can also vary greatly.
Centralized platforms can help businesses consolidate their supplier and buyer relationships in one place, with full visibility and transparency on the progress of those payments. For smaller companies, especially those with a range of payments (Venmo and Zelle among them), coming through a centralized view of transactions can improve operations markedly.
Improving the client’s experience can give a business a competitive edge. Increasingly, suppliers want more options on how to make payments and want to do it in a seamless fashion. If they do not have those options, suppliers will likely switch to a competitor that can meet their needs. With B2B apps, buyers now have the option to improve this B2B payment cycle and keep customers happy while improving cash flow

For merchants who receive $600 or more payments in total for goods and services through a third-party payment network, such as Venmo, Cash App, or Zelle, these payments will now be reported to the IRS starting January 1, 2022.
According to Forbes, the new rule results from the American Rescue Plan signed into law and will mainly impact business owners using third-party payment network providers.
The IRS is cracking down on payments received through apps to ensure those using the third-party payment networks are paying their fair share of taxes.
Previously, the IRS only required third-party payment networks to report payments that met both of the following reporting requirements:

• Gross payments that exceed $20,000, AND
• More than 200 transactions within the current year.

Beginning Jan. 1, 2022, third-party payment networks will be required to send users Form 1099-K for transactions made by mail or electronically.
The new tax reporting requirement will impact the 2022 tax return filed in 2023.

Fall is the time of year that ushers in the beginning of the holiday shopping season, and retail businesses need to capitalize on this buying opportunity to become as profitable as possible.
This holiday retail season will be like never before. Customer expectations during this unique period require digital solutions that allow them to buy how, when, and where they want to. Shoppers expect a safe, trusted, and convenient experience – but how do retail merchants deliver on those expectations in a meaningful way? Retail merchants who design a digital sales strategy will see the best results.
Three Areas of Customer Behavior Changes in 2021
1. Safety
Last year, customer safety took shape with in-store cleaning procedures and maximum occupancy limits. This year, consumers still want safe experiences but are instead referring to increased data security, touchless point-of-sale purchases, and interactions with brands they trust.
 2. Convenience
In times past, convenience meant the ability to order goods online rather than purchase in store. Now, convenience means payments made with a desktop or mobile device with an omni-channel approach to transactions. Customers want to pay how they want, from wherever they are, and at any time of the day.
3. Personalization
Personalizing used to mean identifying a customer by name as they read an advertisement. Today, personalization means collecting insights on customer behavior to better assist them with their next purchases. Customers want merchants to know what they 

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Just when you thought things couldn't get any worse...

Customers at restaurants, gyms and other businesses will need to show proof of vaccination or a negative COVID-19 test within the last 48-hours to enter the establishments beginning Sept. 13.
Mayor Rick Blangiardi announced the Safe Access Oahu program today, in hopes that it would decrease the high levels of COVID-19 infection on the island.

The program will be in affect for 60 days as data is collected, and city officials will evaluate its effectiveness.
“I really want this to come off as really more common sense and appeal in what we’re trying to do to combat this Delta variant and where we are with case counts, and really for the sake of the community,” Blangiardi said.

Visitors are returning to the state in larger numbers, leaving Hawaii restaurants scrambling to fill vacant positions.

Restaurants like Shorefyre in Waikiki said that finding good reliable help hasn’t been easy.
Sheryl Matsuoka, of the Hawaii Restaurant Association, said one of the main problems is that when some restaurant workers were let go during the pandemic many were forced to find other jobs.

As the tourism industry rebounds, restaurant owners said the supply of food service workers appears to be very low.

“We need to get people off unemployment,” said Allen Farinas, owner of Shore Fyre.
“Create a situation where they get incentivized if they hold a job for two months or three months, they can get a bonus, a little kicker and maybe that goes on instead of unemployment kickers because there are tons of jobs open right now.”

Matsuoka said one of the best ways to connect job seekers with potential employers is by e-mailing the Hawaii Restaurant Association at [email protected].

​https://www.hawaiinewsnow.com/2021/06/03/restaurants-say-there-still-struggling-to-find-staff-to-meet-increased-visitor-demand/

In today’s business environment, it is more important than ever to have access to tools that allow merchants to accept payments in a variety of ways. Because of this, Axia has proven to be a useful partner for businesses by providing them with solutions that can empower them to accept payments however their clients want to pay.
Axia’s payment solutions help merchants take the customer experience to the next level while providing businesses with affordable pricing and dedicated support.
Payment Solutions that Help Merchants Thrive  1. Point-of-Sale Systems
Axia’s POS systems are versatile, secure, and allow merchants to accept payments with ease and flexibility. Payments can be accepted – via tap, swipe, or insert – at the point-of-sale system or on the go.
These solutions range from basic to complex, integrate easily with any POS software, allow customers to pay the way they want, and let merchants manage employees and track sales.
2. Electronic Invoicing
Axia’s online invoicing allows merchants to send customizable invoices to clients via email or text which makes it simple for clients to submit their credit card information in just a few clicks.
This invoicing and payment solution accepts payment online, integrates with accounting software, and allows for recurring payments, payment plans, and reminder emails. Electronic invoicing ensures merchants get paid faster and improves cash flow.
3. Mobile Processing
Axia’s credit card processing app – SkyLink – is a simple yet powerful app for Android and Apple phones and tablets. It allows merchants to accept all types of payments whether it’s curbside, takeout, delivery, or customer-based locations.
SkyLink can create and manage invoices, send receipts, and is connected to our payment gateway, TranSafe. It can be used in tandem with a card reader or completely on its own.
4. Payment Gateway (or Virtual Terminal)
Axia’s priority payment gateway, TranSafe, is secure and allows merchants to accept all types of payment transactions – credit, debit, and gift cards, as well as ACH – via any commerce channel. For transactions that are taken over the phone, the process is super easy.

As you may know, there has been a 10-day Hawaii quarantine with several Hawaii travel restrictions since late March 2020. Undoubtedly, many travelers have eagerly been monitoring Hawaii and its process of reopening and now Hawaii is relaxing the mandatory 10-day quarantine policy, allowing travelers to present proof of a negative COVID-19 test to bypass quarantine instead. Please also remember that currently, this test MUST come from a trusted partner.

Now that visitors can once again enjoy Hawaii's remarkable natural beauty, great open spaces, unique experiences, and signature hospitality, we'll cover everything you need to know about what's open, closed, and reopening below. We've compiled a list of all the major Hawaii resorts, hotels, b&b's, inns, and attractions that have already reopened or plan too soon, and their reopening dates when applicable.
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Last year, merchants of all types and sizes demonstrated agility and resilience as they dealt with the unforeseen impact of the pandemic. Most business owners quickly pivoted to update operational practices that conformed with health regulations and satisfied a shift in consumer behaviors.

As a result, merchants turned to contactless payments and curbside service to keep themselves, their staff, and their customers safe. And even more importantly, they were able to keep their businesses viable and operating.
Contactless & Curbside Are Here to Stay
While businesses will experience a surge of in-person interactions as retail opens, many of the new contactless shopping  interactions will remain because it’s convenient. According to a study from Visa, nearly 80% of consumers worldwide changed how they pay in order to reduce contact at the point-of-sale.
And these new ways to pay are a must for merchants to continue to stay viable. Contactless payments are fast by making processes more streamlined; are secure by protecting vital data collection; and good for the bottom line. Transaction pricing does not vary based on how payment information is captured – swipe, insert, tap, phone or wearables – which means there is no impact to contactless payment acceptance costs.

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