I operate a mortgage branch and I am a w-2 employee however run a P&L for my group of 3 loan officers. In order to collect funds upfront for credit reports and appraisal orders I decided to utilize square credit card service to make for a more convenient option to assist my clients. When they pay for the credit report or appraisal I then credit them back for those payments at closing. There is no profit being made. I received a 1099-K
