Skip to main content

I’m still here talking about e-commerce. I hope you’re findinging it useful :) This time we’re going over two common concerns; taxes and payment processing. You’ll need a clear plan for both if you want to collect your money and stay out of trouble.

More Solutions to Common Concerns: Taxes and Payment Processing

Get to the money!


  • This can be difficult to set up properly, and costly if you make a mistake
    • Know the rules for both where you are based, and the places you sell to
  • Tax calculation apps can help
    • Apps can automate calculations and help you file
    • Here are a couple I’d recommend:
  • Consult a business tax professional for your geographic area
    • That’s not me :)
    • Talk to them about what you are using and what they recommend for your business

Payment Processing

  • This is a third party who collects payments from your customers and gets that money to you
  • Features and costs vary
  • There are lots of options. Here are some of the most popular
    • Stripe
      • Low transaction rate
      • Easy to use
    • PayPal
      • They are not a bank
      • And follow their own rules
      • But popular with shoppers
    • Square
      • If you already have a Square reader
      • Can help sync in person and online sales
      • Designed for larger companies
      • More efficient at larger scale
    • Many, many more
  • Compare processing fees
    • Around 3% is standard
  • Do they work with your bank?
    • All the above should work with most banks
  • What currencies are handled?
    • Are you selling internationally?
    • If so, what are their exchange rates?

There’s always more to say when it comes to both these subjects but this should provide a solid overview. Coming up we’ll go over shipping and inventory management. I love talking about e-commerce so please get in touch any time with questions.