We just decided to set up a C-corp, pay the state GET and federal taxes and call it cost of doing business. It probably could have been organized differently, be it an LLC or otherwise, but this way, it's an organization that can be "handed" down to others with a minimum of fuss.
Online Forums Video Tutorials. New Topic Reply Subscription Options. Forums : General Discussion. Participant: Log in to see names. Thursday, November 20, at PM All, I was wondering how you went about setting up a bank account for your class reunion so that you could sell tickets and accept donations online? I'd love to hear your thoughts, or what you did for setting up your account.
Thanks in advance! Vicki Reply. Top Bottom. Thanks, Vicki Reply. Thursday, November 20, at PM - Response 3 When we went to our bank the local manager told us we need a tax ID number to set up an account. Then we went online to PayPal and set up the PayPal account using that bank account. Very easy to do. I have read some faqs but not comfortable i understand all the answers. What should i use for my first and last name? Would there be a per transaction cost to the new account every time someone sends a payment?
If so, how much? Do I need to or should I link a bank account immediately or is it only necessary when we need to transfer the money collected to the bank account? Is there a charge to transfer money from PayPal to the bank? Can their be more than one owner for the account or is it all based on the email name and password when created?
Anything else you feel I should now would be greatly appreciated. I dont want confusion for anyone. You are only allowed to have 2 paypal accounts if x1 is personal and the other x1 is business. If you have 2 of the same kind then you risk both being limited. You can't set up a paypal account to receive money in an anonymous name You can have up to 8 email addresses on x1 paypal account.
So i saw the advice on the money pool. Im trying it. I'm not sure it works as i wanted. I set up a personal account in my name with my email.
I then signed up for a 2nd account with the reunion email where i want the money to go. The 2nd email account for the reunion doesnt seem to have have the option for a money pool unless i cant find it. If this is a one time deal and you're in charge and you already have a Personal PayPal Account, you could use your account to manage the event funds. Note, any type of PayPal Account requires a real name for the account owner, this applies to businesses, corporations, etc.
Yes, you have to use your real name. Note, Personal Accounts do reveal your name and email address, Business Accounts reveal only your business or organizations name and business email address unless your business name is your real name. Yes, there is transaction processing fee applied to the total amount of each transaction. The standard fee is 2. Yes, you will have both the name and email address of the person who paid - this info will appear in the transaction details which will show in your account Activity section.
It's best to link and confirm both a bank account and credit card - yes, you can receive funds without doing so but, you may experience holds on receiving the money from a day up to possibly 21 days and you will have limits on both sending and withdrawing funds. Create subcommittees to carry out specific tasks.
Establish regular reunion committee meetings. Consider working with a reunion planning specialist. Survey classmates for ideas. Brainstorm the initial plans. Create a budget.
When you use PayPal to collect payment for your event , PayPal automatically deducts their payment processing fee before depositing the funds into your PayPal account. You will be collecting the Ticketbud service fee for each sale, which we'll invoice you for at the end of the event. Within your event's form, you can not only sell tickets and collect payments for the event itself, but you can also include add-on items such as t-shirts, raffle tickets, and collect extra donations!
On Friday, most classmates will have had a long day of travel so keep things informal. Class Reunion Ice Breakers. Ice breakers are very important for any class reunion. Jog That Memory. Team Jeopardy. Melody Match. Name Tag Hunt.
Wear a business casual outfit. If you want to look put together in a chic, modern way, try wearing a business casual outfit to your high school reunion. Consider a tailored blazer with skinny pants or a skirt. A sport coat and slacks is a simple, yet refined choice. When people pay you, Cheddar Up keeps your funds safe and secure until you're ready to transfer the money into your troop or service unit bank account.
Generally speaking, 1 committee member to every 25 is a good gauge for determining how many hands you should have on deck for class reunion planning. Some of the potential roles include: Reunion Chair—the overall leader who organizes the committee.
Treasurer—in charge of all monetary duties and staying within the. Mobile Payments Continue to Grow. Provide an Online Payment Gateway. Click-to-Pay Email Invoicing. Schedule Recurring Billing. Easily sell tickets and register your classmates right on your class reunion site. Customized Tickets. Add custom fields to your reunion tickets and limit the number of tickets to sell. Track Tickets in Real Time. Promote Your Reunion. Get Paid Easily.
Deal With One Company. Start a website. Visit school: inform them of reunion; obtain class list, yearbooks.
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