#1 (permalink)

I am curious to how everyone deals with their finances with all the different websites they run.

I plan on having e-commerce sites, niche content sites, niche resource sites, etc.

How would I setup my business entity?

I have to setup the following accounts:
Lease a Dedicated Server (web hosting company)
PayPal Account (wanted to use for all sites, but then email would be different)
2checkout Account or Merchant Account (1 account for all sites or 1 for every site)
P.O. Box (1 account for all sites or 1 for every site)
Business License (1 Busienss License for all my online ventures, or 1 business license for every site)

I am serious about making some money online and am taking this seriously. I would like to know if I should just wait till I profit to setup my business license or should I set everything up now before I start to profit.

I would like to know what other big earners on this forum do for their business license.

If possible, any other help on 'Having employees' & 'tax benefits for either entity' please let me know.

Any advice is appreciated.

#2 (permalink)

- Get a checking account, then get an account just for your merchant account... check with Costco, they have a great deal with Nova.

- If your in the US, make sure to get a FIN and Sales Tax #

- Hire a good accountant, once you start making some chedder!

- Check before you get a business lic with your local court house... some only care if your doing business within your county. So if your revenue is all online, you may not need one.

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"Lee's T-Shirt Guy"

#3 (permalink)

What I did:

- Made an LLC
- Filed for an EIN number
- Got a checking + savings under my LLC name
- Do my own accounting

If you want to set up an LLC, my blog (link in signature) has a guide for it which I hope helps some lol

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