Best type of account for my needs?

[roborobyn]

Hello. I've been roped into planning my high school reunion. Registration will be entirely online. I am not sure what's the best PayPal account option. I filled out the form and it suggested the Website Payments Standard, but then I have to choose a business type or "nonprofit " We are really not either one. I wasn't sure if choosing a business type would somehow hurt me later taxwise or something.

Any suggestions on the best way to set this up? (It will be an entirely separate account from this personal one I am logged into as I type this.) We haven't gotten our bank account yet (we will any day now), so I'm not sure how any of this works on an official level.

Thanks.

[PayPal_Adrian]

Hello roborobyn!

Sorry to hear they're making you shoulder all of this - but I do want to say it looks like you're a good planner, because you're out here asking questions before everything happens.   

First, I can't compliment you enough on setting up a separate account just for this function.  Absolutely a best practice we recommend.  That way, personal business and organization business don't co-mingle. Choosing a Business account won't hurt you down the road, either.

If you don't want to set up a Business account, you can still use Website Payments Standard with a Premier account.  However, keep in mind that with a Premier account, everyone will see your name when sending a payment.  If you use a Business account, they see the Business name (such as "High School Reunion Committee"). If you do sign up for a Business account, don't sign up as Non-profit unless you're representating an organization that actually is tax-exempt, such as a 501c3 charity.

So, it sounds like you're on the right track!  I wish you all the best of luck with this event!

Adrian