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PayPal Business account ?

Discussion in 'XenForo Questions and Support' started by damowhite666, Feb 8, 2013.

  1. damowhite666

    damowhite666 Active Member

    Do I need a Business account for user upgrades ?

    I've seen it asks for business address and phone ect...

    How have you set your PayPal account up ?

    Did you use your home address for the company ect.. ?

    Help would be great :)
  2. shawn

    shawn Well-Known Member

    We set up a business account and used the business PO box for the return address. But that's because we are a business. IANA/Attorney/Accountant, but generally speaking, all income from the site, whether from user upgrades, advertising, merchandise, etc, is "income" that should be reported on your taxes. Likewise, costs incurred are expenses or losses. For us, it was easier just to pay the $200/yr LLC filing fee and organize as a business. Keeps the paperwork tidy.

    But Paypal will let you do it however you want.
  3. damowhite666

    damowhite666 Active Member

    Hmm.. Well this is just to set up a Donator rank on my forums. $5 a month so I think I'll just let PayPal charge a fee for each transaction received
  4. shawn

    shawn Well-Known Member

    Yeah, Paypal charges the fee regardless. I think you get some better reports with the business account, but I honestly don't remember for sure.
    damowhite666 likes this.

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