Helping to drive sales but to temporarily depress profits was the acquisition out of bankruptcy of Clinton Cards, a U.K.-based chain of 400 retail card shops.
Concerns over how best to report and reconcile items on the form 1099-K have plagued retailers and individuals alike since legislation was passed by Congress in 2008 requiring the issuance of forms 1099-K for third party merchant and credit card payment processing which meets certain criteria.
And many families also keep a sizable amount of money in their savings account or continue to put money into their 401(k)s, while still carrying thousands of dollars in credit-card debt--even though dipping into savings and paying off their credit-card bills would guarantee them an immediate return on investment of 15% or 18%.
So accurate are K-Tron's scales that sales reps like to step onto them, hand clients a business card and watch their faces while the difference in weight is registered.
Indeed, each would have paid above-average interest rates by obtaining a peer-to-peer loan or credit card cash advance, as well as incurred possible tax penalties through 401(k) withdrawals.