With card processing fees continuing to rise, no cost processing is continuing to gain popularity with businesses. By utilizing cash discounting or dual pricing, the savings can be substantial.

In March of 2023, we helped a custom apparel company in Buffalo, NY save approximately $19,000 a year in card processing fees!

Saving money is great, but what about the tax consequences? If a business eliminates $19,000 per year in expenses is that now considered taxable income?


When I started in the payment processing industry in 2011, I planned on offering a full suite of financial services. Over the next few years, I became a licensed financial advisor with a series 6 & 63 license.

For personal reasons, I decided not to keep my license in place. I still have the knowledge, but I cannot legally offer financial advice. What I am outlining here is general information.

For a more detailed and personalized financial plan for your business I would recommend talking with my friend & associate Terry Krueger, a senior Financial Advisor at Krueger Advisors, LLC.

Back to my question:

Is the $19,000 of savings now considered taxable income? The answer is maybe. Even if the entire amount is taxable, it is still less than paying the full amount in fees, right?

But wouldn’t it be great if your business could continue to write off the money you were spending, and have it accumulate for your retirement? There are legal ways to do this, and you should explore every possible option.

When it comes to retirement, I know from many conversations that often small business owners have little, or nothing set up for themselves. It seems to be one of those things that needs to happen ‘someday’ but someday never comes.

My personal recommendation: if no cost processing is a good fit for your business, take the amount you save and use it for your future. My associate Terry Kreuger is an absolute financial wizard with extensive knowledge and resources.

Someday is today! Let me know how I can help you get this started. Contact us or call 315 203 1697.