I started a website a couple of weeks ago. I was planning on easing into things and learning as I go. My plan was to build up a lot of traffic before I start running ads. However, my website is getting a ton of traffic earlier than I expected and I have local businesses ready to advertise on my site.

I have no idea where to go from here. A couple of questions I have..

Do I need to set up an LLC before accepting payments?
Do I need contracts for each transaction?
Can I just tell businesses to pay me via PayPal or a similar service?

1 ...

Report Post

Posted by nolanola

Member since Nov 2010

7581 posts

Posted on 3/30/16 at 12:54 pm to Delacroix

More info about what you're doing would be helpful in order to help you.

I like PayPal as a payment/collection system however again I'm not exactly clear on what your new business does.

2 ...

Report Post

Posted by Delacroix

Member since Oct 2008

3986 posts

Posted on 3/30/16 at 1:40 pm to nolanola

Its a website that compares products for local businesses. I dont sell anything so all of my revenue would come from traffic driven advertisements

0 ...

Report Post

Posted by nolanola

Member since Nov 2010

7581 posts

Posted on 3/30/16 at 2:47 pm to nolanola

I'm not an attorney or tax professional.

If you are planning on running this as a real business I see no reason why you wouldn't want to set up an LLC, Inc, etc.

I use PayPal for my business and really like it. They have a good easy to use interface.

In just about any sort of business deal you probably want at least some terms and conditions set forth before collecting money. Without knowing the exacts of your business it is hard to say if I would go with a full blown contract or not.

Page 1