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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10796
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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How can I start an online website that they can pay me

Customer Question

How can I start an online website that they can pay me online for any services I would give them?
Submitted: 1 month ago.
Category: Tax
Expert:  Lane replied 1 month ago.

Hi. My name's Lane. I can help with this. Several of my clients use websites to provide information and collect payment from their customers and clients.

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I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

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Bear with me a minute while I prepare my response.

Expert:  Lane replied 1 month ago.

First, you'll go to one pf the many providers out there (Yahoo, Godaddy, Google) and purchase a domain name (typically $10 or so a year).

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https://www.godaddy.com/

https://domains.google/

www.register.com/register-domain-names.rcmx

https://www.namecheap.com/

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Next you'll need a host (called WebHost). Look for a web host that offers "cPanel" with Fantastico scripts or, if you prefer a Windows-based server, Ensim Power Tools. These features make installing third-party scripts, like shopping cart systems, a one-click affair.

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And Paypal, once you set up an account, can give you the script to add a paypal "pay with paypal" option on your site as well.

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A dedicated IP address (about $2/month) for your website and private SSL certificate ($50/year). SSL is the Secure Sockets Layer protocol that encrypts the data between the browser and the website server; it's essential for protecting customer data. Many web hosts offer free shared SSL certificates, but these generate warnings in the browser that the SSL certificate doesn't match the domain name. If you want your web customers to trust you, you'll need a private SSL certificate, and that also requires a dedicated IP for your website.

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And it's web Host that will have lots of templates for building your own site by using a set of several pages where you can fill in what you want each page to be used for (the menus taking your users to the site are usually built-in already) and then you complete each page as you like (one of the pages can be a checkout page where your customers/clients either use a credit/debit card or use paypal.

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You can ALSO pay (each hose usually offers this service as well) to have someone build your site.

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Now, in terms of taxes, you'll simply report your revenues on a schedule C (Business income or loss) along with the expenses of running your site (as listed above) and any other expenses you have ... which will come down to a profit (or loss) and flow to line 12 of your tax return... adding to any other income on your return (or reducing taxable income in the event of a loss in the first year or two)

Expert:  Lane replied 1 month ago.

One last quick thought (we can continue the dialogue here until you have what you need) you may want to consider setting up an LLC with your state's secretary of state ... if there's just one member (owner in LLC terminology) then the taxes are the same (attach a schedule C to your normal return) BUT the LLC will provide some liability protection, and help to separate your personal income and expenses and business income and expenses.

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Please let me know if you have ANY questions at all, before rating me

But if this has helped, and you don’t have other questions, I would appreciate a positive rating (using those stars on your screen – and clicking submit)

That’s the only way JustAnswer will compensate me for the work here.

Thanks,

Lane

Customer: replied 1 month ago.
Hi what if my company is based on philippines and dubai would it be possible to just connect my bank or paypal where the money goes straight to my account!
Expert:  Lane replied 1 month ago.

Yes, Paypal does tat for several of my clients. That's another reason you might want to set up a US LLC.

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If you don't perform any of your services on US soil, none of this would be considered "U.S. Source Income." But the LLC would give you an EIN to provide paypal AND to open a business account with.

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Every bank is different. Some require that you come to the US to open an account. So do not.

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Also, you may need to find a US registered agent or other nominee to apply for the EIN for the LLC.

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But this IS possible.

Expert:  Lane replied 1 month ago.

By the way, PayPal will not send to a non-US account (US paypal will not). But with a US EIN and US bank account, that works... you'll just want to document that you are not providing any services, have any payroll, or business assets in the US.

Customer: replied 1 month ago.
What is this US EIN mean? How much for all this costs? How can I open US bank account since I am here in Dubai? LLC TRADE license right how much will it cost?
Expert:  Lane replied 1 month ago.

EIN, is a US tax ID.

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Generally, there are no restrictions on foreign ownership of a company formed in the United States. The procedure for a foreign citizen to form a company in the United States is the same as for a US resident. It is not necessary to be a US citizen or to have a green card to own a corporation or LLC formed in the United States.

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You can have a company such as this apply for the EIN as you "responsible party." (I have no association)

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https://www.activefilings.com/manage-your-business/ein-for-foreign-residents/

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However, opening a US bank account is becoming harder to do without making a trip to the US. Banks typically want you to provide proof of identity in person.

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What you migh TRY to do is see if Paypal will link to a foreign account. The last time I spoke with their legal department, they recommended using the "other country's paypal, (apparently they have non-US entity versions of PayPal) ... BUT this may have changed.