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Do I need to set up a business for this?

by StealthTrades
7 replies
Do I need to make this an "LLC" or get an EIN or any licenses to start a subscription website? Or can I just set up the website, get paid via PayPal, and show the income on my personal taxes? Is that legal?

My website is my "username" dot com. Thanks all.
#business #set
  • Profile picture of the author Michael Cole
    Dude, ask a lawyer. You need facts, not opinions. If it's not legal, and you do it and get caught telling the police, "Bob over at Warrior forum said it was okay." won't keep you out of jail.
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    • Profile picture of the author StealthTrades
      The site is legal, what I'm saying is all you guys sell something online, majority anyways. Do you just accept payments and show them on your taxes? Or do you register business for each venture?
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  • Profile picture of the author StealthTrades
    Anyone????
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  • Profile picture of the author Claire Sharp
    As far as i know, almost everybody sell online and accept payments (paypal, credit cards, etc). What do you mean register business? You mean to register online?
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  • Profile picture of the author simondoddmarketing
    Those that are successful will generally have setup as a business. Not only is this a requirement for certain types of business but it also gets you in the right mindset.

    If you are just putting up sites and receiving payments you will forever be doing the same. If you set it all up from the start as a business with a business plan and other research you would do for any other business you are far more likely to have greater success because your mind is in business mode as opposed to hobby mode!

    Just my thoughts, not legal advice!
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  • Profile picture of the author StealthTrades
    So I can legally set up a website, accept payments on PayPal for it, and thats it? Not required to do ANYTHING else legally?
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  • Profile picture of the author simondoddmarketing
    SPEAK TO A LAWYER FOR A DEFINITIVE ANSWER!!

    No one in here is qualified to answer that as far as I am aware!
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    Get An Exclusive Interview With Alex Jeffreys Here!

    Free advice and information on my blog too!
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