Uncategorized Archives · Gravity Payments

How to protect your business from chargebacks

If your business is taking an increased number of online or mobile payments, it’s even more important than usual to take steps to prevent chargebacks. Here are some suggestions. Clear Communication Include contact information (a phone number and an email address) on your website, shipping materials and all other communications. Ensure your name is being … Continued

Impact Payments, Retention Credits, and Other Small-Business News

As the COVID-19 (coronavirus) outbreak continues, the Internal Revenue Service is taking multiple steps to help small businesses. Resources for small businesses The IRS has established a special section on IRS.gov focused on steps to help businesses and other taxpayers affected by the Coronavirus. This page will be updated as new information is available. The … Continued

Employee Retention Credit available for many businesses financially impacted by COVID-19

WASHINGTON — The Treasury Department and the Internal Revenue Service launched the Employee Retention Credit on March 31. Designed to encourage businesses to keep employees on their payroll, the refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. Here are … Continued

IRS: COVID-19 tax news for small business

As the COVID-19 (coronavirus) outbreak continues, the Internal Revenue Service is taking multiple steps to help small businesses. (See the complete IRS Operations statement at IRS.gov.) Tax Day now July 15 The Treasury Department and Internal Revenue Service announced March 21 that the federal income tax filing due date is automatically extended from April 15, 2020, … Continued

SBA to Provide Disaster Assistance Loans for Small Businesses

Note: Story updated March 18 with new information. U.S. Small Business Administration Administrator Jovita Carranza issued revised criteria for states or territories seeking an economic injury declaration related to Coronavirus (COVID-19). The relaxed criteria will have two immediate impacts: Faster, Easier Qualification Process for States Seeking SBA Disaster Assistance. Historically, the SBA has required that … Continued

IRS launches Identity Theft Central

The Internal Revenue Service recently launched Identity Theft Central, designed to improve online access to information on identity theft and data security protection for taxpayers, tax professionals and businesses. Identity Theft Central is available 24/7 at irs.gov/identitytheft. It is a resource on how to report identity theft, how taxpayers can protect themselves against phishing, online … Continued

Run a small business in the Northwest (or want to)? This nonprofit can help

Remarkably, even the greater Seattle area has unmet demand in the coffee market. When local entrepreneur Efrem Fesaha realized that the city’s East African community was having a hard time finding unroasted green coffee, a cultural staple, he opened Boon Boona Coffee in the Seattle suburb of Renton. And when he needed business guidance, he … Continued

FAQs about the Visa/Mastercard lawsuit

What is the lawsuit about? Merchants may be eligible for a refund on some interchange fees paid between Jan. 1, 2004, and Jan. 25, 2019. The plaintiffs claim that Visa and Mastercard violated antitrust law because they set interchange fees and imposed/enforced rules that limited merchants from steering their customers to other payment methods, such … Continued

“Dear Gravity”: Advice for Merchants

Dear Gravity, I’ve been with my processor for five long years. But they’re not giving me the support and attention when I need it the most. I’ll call and I’ll call and I always get their voicemail or I get stuck in a phone tree. My messages often go ignored. They’re not really checking in … Continued

Rates and Fees: What you need to know

Sometimes this industry makes used-car salesmen look good. Sigh. But we’re here to help. See which credit card processing costs are predetermined, which ones you can control, and how to get an apples-to-apples comparison when choosing a processor. Gravity’s Ashlie Blaske helps you make sense of the byzantine world of credit card rates and fees.

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