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Business Accounts with Paypal

Started by Pufftek Apr 13, 2012 at 6:56 PM 1 reply 1.8k views

Original Post

Apr 13, 2012 at 6:56 PM

I am getting extremely frustrated about this, and cannot find any sort of support or help for my problem. I have a finished game that I am ready to sell. I want to sell it on my website through an eCommerce plugin, which deposits the payments into your paypal account. So I set up a business account to receive the payments through on paypal. Here are my problems:

My "business" was registered through filing an assumend name with the county clerk. Is this all I have to do to be an official business? I don't have any employees, it's just me, and I'm online only.
Paypal requires you to put an address for your business. I put my home address. Will this show up to people who purchase my game?
What do I have to do regarding taxes? Do I have to tax people when they purchase my game?
Do I have to set up a seperate bank account for my business? Or can I just withdraw my paypal funds to my personal saving account?

I feel like I'm missing so much. I don't want to do something wrong
and get in trouble with the IRS or something.

Tom Sloper

Mod

4,763

Tom Sloper

Apr 13, 2012 at 7:07 PM

1. You will have to pay taxes too. Check with your government's tax office for information on how taxes must be paid. Depending on what country you live in, there might be even more to it than that.
2. Not necessarily. Why don't you ask Paypal? Or get a friend to place an order, and ask him if he saw it.
3. See #1. Check with a tax adviser in your country, or go to your country's tax office website.
4. No.

Pufftek

Author

Pufftek

Apr 13, 2012 at 7:11 PM

Thanks, Tom. Helpful as always. I will contact the tax office then see if there anything else I need to do.

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