PayPal business account under 18.?
You can not sign up for a pay pal account, because since you are under 18, you can not legally form a contract. Because of this inability, you would also not be able to have a credit card, or to have a bank account that offered you credit (because you would not have a duty to pay it back if you borrowed.) What you will have to do is to have a parent/ custodian/ guardian sign up for the account. This is the person that will be held financially liable for any torts that you commit. Also you will need to make sure that if you are running a business, that you have the necessary tax forms completed in your state/ county/ city and these will also have to be handled by a parent/ custodian/ guardian. Your best bet is to meet with your family attorney about how to set up your business, you could also find some help through your local small business association. I had a few businesses before I was 18, I congratulate you for being a young entrepreneur, you do have some hoops to jump through that older people dont, but it is worth it in the end.
Can I receive payment through PayPal in a personal account?
[[[DISCLAIMER - NO ONE SHOULD USE PAYPAL FOR ANY REASON, EVER!!!]]]Yes, you can receive payments through PP and have those transferred into your personal account. That is the entire purpose of that platform.HOWEVER, if you have a personal PP account and you start receiving large and/or frequent payments indicating business transactions (and/or for any other reason they decide is proper) they WILL, without prior notice, freeze your PP account, back charge your bank account and/or otherwise tie up and/or effectively steal your money for their own profit.My advice is to search out and put a crypto wallet system into place. IF you’re selling something worth $300+; I’d suggest BTC, lower than that ETH. Either way, YOU are in control of your own money; not someone else who can turn around and steal from you when THEY decide your money belongs to them. Just something to think about.Good luck with your business!!! (See my education creds and contact me there if you have any questions about setting up crypto payments for your venture.)
Accounting and income tax consequences - business expenses?
1. Ducted airconditioning relating to the fit-out of the business premises - it cost $11,000 inclusive This should be reported on the balance sheet as part of Property, Plant, and Equpment (Fixed Assets). Either as a separate item or added to the total cost of another asset. Say Air Conditioning Unit or Building. As a fixed asset it is then depreciated over its estimated useful life. 2. An opening party held the night before the official opening of the store - $2750 inc, alcohol was provided Expense on the P&L 3. 2 lucky door prizes given away at the party - worth $330 & $88 inc Expense on the P&L
How do you make a PayPal account?
You can follow these steps to create an Individual AccountGo to PayPal website and signup for an Individual Account. You will receive an email from PayPal asking you to activate your account by clicking the link in the email. Then you will have to link a payment instrument/account to your account to make or receive payments/funds. The payment instrument/account can be a bank account, credit card/debit card.Once you have linked your payment instrument/account, you will have to verify your payment instrument/.account.In order to verify your linked payment instrument/account, PayPal shall send two micro deposits to your payment account within two working days.You can check your statement and note down the value of each micro deposit, which you will need to enter in your PayPal account to verify your payment instrument.If the micro deposits are correctly entered in your PayPal account, then your account will be successfully verified and you can start using your account to receive funds or make payments.If you need to receive payment, you will have to link your bank account, but if you are looking to make payment only, then credit card is fine.
How do I get cash from my PayPal Credit account?
Yes, there is a way to get cash (advance) from PayPal Credit account. It is not a secret, the way you can do this is even answered step by step from PayPal.You can not send money to yourself from your PayPal Credit Account. You need a friend/relative you trust and who has a PayPal Account.Log into your PayPal Account. Select Send Money. Enter the person’s email address. Enter amount. Change the payment method to PayPal Credit. Click send. (There is a small transaction fee you need to pay.)The other person has the money you sent in their PayPal Account instantly. Now ask that person to log into their PayPal Account and select Send Money, enter your email address, the amount and pick PayPal Balance. Click send. (There is a small fee charged to that other person what you can pay back). Now the money is sent to your PayPal Account, it’s in your PayPal Balance instantly. You log into your PayPal Account , select Transfer to your bank (you need to have a bank account or debit card linked to your PayPal Account). PayPal will transfer the money into your bank account what is linked to your PayPal Account. It takes about 2–3 days depending on how long it takes at your bank to credit your bank account.Hope this helps, I did it myself and it worked for me!