merchant account

[adamnichols45]

Does the tax man see everything that goes through a merchant account?

[FalseDawn]

Why would you even ask a question like that, unless you were thinking about evading paying tax that is due?

For the record, no, the tax authorities are not omniscient - but they have the means of finding out whatever they need, and if they even get a whiff that you are being dishonest, they can (and will) investigate your records.

[BeeDeeDubbleU]

Bet you wish you hadn't asked Adam ;)

[adamnichols45]

Why would i wished i had not asked?

With everything thats gone through the news with ebay im interested to know how they are going about it all.

My web business is a registered business. and a ltd company -

[BeeDeeDubbleU]

Why would i wished i had not asked?

Because of the roasting you got from Falsedawn? Oh well ... let's just forget it.

[Corey Bryant]

Check with your MAP (merchant account provider). Some report depending on the volume that is processed.

-Corey

[etechsupport]

If I am not wrong a merchant account is not a business checking account. It is just a facility that is arranged with a credit card clearing bank that allows you to process card transactions. I personally dont think tax man is going to see what is going through your merchant account.