What is Future Delivery?You may be wondering, “why is an annual membership risky?” – great question! First, let’s define a term that we can use throughout this discussion. Whenever you (the merchant) sell a good/service that you haven’t delivered yet, then you are engaging in future delivery. Just like it sounds, future delivery [...]
What's a 1099 Form? Starting in 2011, the IRS began mandating that all Merchant Service Providers, like Dharma, report income back to the IRS on an annual basis. Per federal law, we are required to report this information to the IRS. 1099-K forms will include the gross processing figures for [...]
When you accept PIN debit transactions, you’re processing over different networks than what Visa/Mastercard/AMEX use. These PIN networks are managed separately, and charge annual fees for their usage to MSPs like Dharma. Dharma always passes these fees through at cost. Each PIN debit network has a different annual fee, ranging between $8 and [...]