I am an artist who wants to do commissions online. I just want to make money, but I dont want to get in trouble with the IRS when it comes to taxes.
I wanted to use paypal to accept online payments and connect paypal to a checking account so I can access the money immediately.
I want a seperate account from my personal accounts, to keep the money I
make from work seperate from the money I use for personal things like
food, bills, etc. I would put the tax money in the business account (and money for business expenses) and
then transfer my "pay" as it were into my personal bank account. Do I
NEED a business account specifically? I really dont want to have to apply for one
especially since this is only a piece of my income. Im not setting up a
business name, dba, llc, corp, whatever. I just want to freelance to
earn some extra cash.
Do I NEED a business account, or would setting up a personal checking account for the money I earn on the side be alright?
I would not be using the bank account i have right now. I would be setting up a new personal checking account for recieving money online. Is there anything wrong with this?
Thankyou for any help you can give me.
I wanted to use paypal to accept online payments and connect paypal to a checking account so I can access the money immediately.
I want a seperate account from my personal accounts, to keep the money I
make from work seperate from the money I use for personal things like
food, bills, etc. I would put the tax money in the business account (and money for business expenses) and
then transfer my "pay" as it were into my personal bank account. Do I
NEED a business account specifically? I really dont want to have to apply for one
especially since this is only a piece of my income. Im not setting up a
business name, dba, llc, corp, whatever. I just want to freelance to
earn some extra cash.
Do I NEED a business account, or would setting up a personal checking account for the money I earn on the side be alright?
I would not be using the bank account i have right now. I would be setting up a new personal checking account for recieving money online. Is there anything wrong with this?
Thankyou for any help you can give me.

