How Square is Different. Square differs greatly from traditional credit card processors in terms of how it markets and sells its service. While most merchant account providers utilize poorly trained outside independent agents who are focused on setting high fees in exchange for big commissions, Square relies on online marketing and partnerships with retailers.
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In response to a costly decision in Kansas to exempt the profits of all small businesses in the state from personal income taxation, entrepreneurship experts Dane Stangler and Jason Wiens recently observed, “[I]ncome taxes are often less of an issue [for young companies] than employment and property taxes [because the latter two taxes are due.
The author is with the Office of Retirement Policy, Office of Retirement and Disability Policy, Social Security Administration. Acknowledgments: The author would like to thank Barbara Smith, Kirstin Appelt, Chris Anguelov, Dave Shoffner, Anya Olsen, Kevin Whitman, John Phillips, Hal Arkes, David Weaver, and Jason Fichtner for their thoughtful comments on earlier drafts of this article.
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