Greetings all,
Although I have been quiet on the forums here lately I have been busy with other things. I have started a small in the black (ie, unofficial) business. I am marketing myself in a single market through word of mouth, street marketing, and craigslist It is paying quite well, but my business is limited to person to person contact, ie. I have to personally meet with clients to exchange product for money, in hard currency.
My question is have any of you set up online payment systems, either through paypal, visa, etc? What is the catch to this? Do I need to report this as income? Do I need to register the business? If I can get online payment I can expand the business to other markets and even go mobile, taking my business with me on my next trip.
Although I have been quiet on the forums here lately I have been busy with other things. I have started a small in the black (ie, unofficial) business. I am marketing myself in a single market through word of mouth, street marketing, and craigslist It is paying quite well, but my business is limited to person to person contact, ie. I have to personally meet with clients to exchange product for money, in hard currency.
My question is have any of you set up online payment systems, either through paypal, visa, etc? What is the catch to this? Do I need to report this as income? Do I need to register the business? If I can get online payment I can expand the business to other markets and even go mobile, taking my business with me on my next trip.