Small Business Question

[Dell14z]

I want to add PayPal to my methods of payment.  I'm setting up my website now for a January launch. Since PayPal accepts so many credit cards, it seems wasteful to set up merchant accounts with fees.  But, many clients will be from India, Pakistan, and other areas. Banned are Russia, China, Japan and a free others due to fraud. 

I want the client to pay me under a business link (I.e. Pay Pam's Pocketbooks) but the account and credit card statement would show my name. I want that hidden.  Not dodging taxes!  It's a solo business and setting up one is too costly for me. I also don't want my address anywhere as this an online business only. Privacy is vital to me. 

How is can I set this up so I can accept PayPal payments, deposited to my bank account, with the customer only knowing a business name?  Transactions will be under $50 mostly.  I'll do my own additional fraud check for anything larger.

thank you

[Quandary]

You should have a business checking account and business credit card.  You may want to consider setting up an LLC instead of doing a Sole Proprietorship.  Having an LLC or limited liability company is a corporate structure whereby the members of the company cannot be held personally liable for the company's debts or liabilities.  Limited liability companies are essentially hybrid entities that combine the characteristics of a corporation and a partnership or sole proprietorship.  Meaning - you able to separate your business assets from your personal assets - that's why having a business checking account and business credit card it the better way to go - and most important, doing so keeps your personal info - personal, customers only see your business info.

[Whac-A-Mole]

I guess you dont want to spend much money setting up a business,you dont want to open a merchant account to accept credit card,you sure dont want to open a business bank account as fees could be high,and you dont want to set up LLC.

so open a Paypal account in your name,your SS number and your home address,link a bank account and your credit card to this Paypal account.

when your customer sends you paypal payment,they will know your business name and your Paypal email address,they will not see  your physical address .

But I would think you would have a physical address on your website,it could be a PO box or your home address.

Also when you ship your items,return address will be on the shipping label,unless you dont care if it is returned or not in case of non delivery.

As for transferring fund to bank account,you have t o do it yourself,Paypal would not do it for y ou.

BTW,Japanese buyers are good customers,for all the years I sell on internet,I have just one non delivery with them,never a dispute or chargeback. 

[Whac-A-Mole]

you must be aware Paypal,AMZN would send you a 1099k for your tax return if your annual transactions come to 200 AND dollar amount received $20k or more.

so giving your mail address and SS number are necessary to open an account with Paypal,ONE COPy comes to you and one goes to IRS.

[Dell14z]

Thanks, all. I ran my business for nearly twenty years. I know about taxes, trust me!  Before I had a private mailbox street address whereas now I have just my home address.   I'm not hiding from the authorities or IRS at all.  All will be legally filed. I'm not selling a physical product so no worries about my address. I'm not expecting big earnings.  Thus is a side project to earn a little and keep me busy as I recover from a life-altering illness. If I do a grand a month, I'll earn 10%. This isn't big business.   I'm getting merchant accounts for those who don't want PayPal. Also SquareCash and Stripe.  The more alternates, the better. I'll probably drop the merchant accounts for PayPal but I have to give it t

Kumiko, I'm getting my bank account but it's personal, not business. It's separate from my own non-commercial account. 

Japanese customers are hit or miss, like any location. I had a few run-ins with Customs years ago but this product is different. I'll consider adding them but the others have a record of fraud in my genre.