Can I accept a Credit Card?

[SC0TT]

Probably been asked before but I couldn't find it in my search.

I have a firearm for sale and a friend wants to purchase it. I have a card reader for my small business and my buddy wants to pay for my firearm with his credit card because he is short on cash.

Can I do this legally?

 

[jeffdt]

In my opinion, form of payment is irrelevant. if all aspects of private party firearm sales are met.

 

[Zeake]

You can if you so desire

 

[NWSharpshooter]

I have in the past. I actually wish more people would take paypal or credit cards. I never have cash.

 

[SC0TT]

Thank you gentleman.

 

[shootsacanon]

<- Not an accountant, but your merchant account should feed into your business bank account. Now you're running a personal item through your business merchant account and business bank account. Too messy for me. If your merchant account is feeding into your personal account, then I'd recommend separating your small business funds from your personal funds.

 

[ncrinc12]

You can accept a CC payment that is not a problem, I have merchant services for my business, just don't want to report money from a sale as company revenues

 

[Cadcom]

Can't he connect his credit card to a PayPal account and send it to you through PayPal? (or I could be wrong)

 

[Zeake]

Can't he connect his credit card to a PayPal account and send it to you through PayPal? (or I could be wrong)

He could but why. . PayPal will get their cut, unless he sends it friends and family with nothing in subject

 

[SC0TT]

Im having him do just that Cadcom. Sending the funds through a PayPal transfer

Basically i didn't know if the sale had to be cash or if i could take an electronic form of payment. Just didnt want to get myself into an issues