We specialize in bookkeeping, payroll, income tax return preparation, and retirement planning, and serve a nationwide clientele consisting of individuals and businesses of all types and sizes (LLC, partnerships, C & S Corporations), as well as trusts and estates. As financial problem solvers, we provide practical advice and proactive solutions with personalized service. We are affordable, experienced, and friendly, and we tirelessly study and research the ever-changing world of tax law and regulation so that we can help every client realize the greatest possible savings and return on investments. Our office is conveniently located in Dover, Delaware. Please contact us today to find out more about how we can make YOUR life less taxing!Tax
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๐๐๐๐ฃ ๐ฌ๐๐ก๐ก ๐๐ฆ๐ช๐๐ง๐, ๐๐ฉ๐ง๐๐ฅ๐, ๐๐๐ฎ๐๐๐ก, ๐ค๐ง ๐๐๐ฃ๐ข๐ค ๐จ๐๐ฃ๐ ๐ข๐ฎ ๐๐ช๐จ๐๐ฃ๐๐จ๐จ ๐ ๐ฉ๐๐ญ ๐๐ค๐ง๐ข?
For the 2026 tax year, payment apps and online marketplaces are expected to send Form 1099-K only if your business processes more than $20,000 in gross payments and has more than 200 transactions on the platform.
If you use a traditional direct merchant credit card processor, the 200-transaction threshold does not apply. Card payments will be reported on Form 1099-K regardless of the amount.
Not receiving a tax form doesnโt mean the income can be left off your business records or tax return.
If money came into your business, your records should show the gross sale, any processor fees, refunds or chargebacks, and the final deposit.
On a scale of 1 to 10, how confident are you that your payment app fees, refunds, and chargebacks are being tracked correctly in your books?
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๐๐๐๐ฉ ๐จ๐ข๐๐ก๐ก ๐๐ช๐จ๐๐ฃ๐๐จ๐จ ๐๐ค๐จ๐ฉ-๐๐ช๐ฉ๐ฉ๐๐ฃ๐ ๐จ๐ฉ๐ง๐๐ฉ๐๐๐๐๐จ ๐ฌ๐ค๐ง๐ ๐๐ ๐๐ฃ 2025?
JPMorgan Chaseโs 2026 Business Leaders Outlook found that business owners made several changes in response to cost pressure:
โข 38% reduced non-essential expenses
โข 32% raised prices on all products or services
โข 31% added new products or services
โข 30% raised prices on select products
โข 25% invested in technology to improve operations
Which of these changes did you make in your business in 2025?
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๐๐ค๐ฌ ๐๐๐ฃ ๐ ๐ก๐ค๐ฌ๐๐ง ๐ข๐ฎ ๐๐ง๐๐๐๐ฉ ๐๐๐ง๐ ๐ฅ๐ง๐ค๐๐๐จ๐จ๐๐ฃ๐ ๐๐๐๐จ?
Start by looking at how your business is being charged.
Flat-rate providers can be simple, but they may not be the cheapest option once your card sales grow.
An interchange-plus plan can cut out the blended-rate markup, so youโre not paying premium processing rates on transactions that may cost less to run.
You can also review:
โข Whether large invoices could be paid by ACH
โข Whether a dual-pricing setup makes sense
โข Whether your merchant statement includes hidden fees
โข Whether your current processor still fits your sales volume
A quick quarterly review can catch fees before they quietly drain cash flow.
When was the last time you looked closely at your merchant statement?
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First State CPAs & Associates |
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|
18 S. State St, Dover, DE 19901 |
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| (302) 736-6657 | |
| Business Hours | |
| January 1st January 31st | |
| MondayโFriday: | 8amโ5pm |
| Saturday & Sunday: | closed |
| February 1st April 15th | |
| MondayโThursday: | 8amโ6pm |
| Friday: | 8amโ5pm |
| Saturday: | By appointment |
| Sunday: | closed |
| April 16th December 31st | |
| MondayโThursday: | 8amโ5pm |
| Friday, Saturday & Sunday: | closed |