>If my revenue is say, $1m, that's roughly $23k that a CC or payment processor gets right off the bat, so I'm paying taxes on the $1mm but the cut takes a nice hit off my end profits.

If you are talking U.S. income tax, that is incorrect. You are not paying taxes on $1 million, rather you are paying taxes on $977K since the payment processing fees are tax-deductible.