# advice-sharing

joyce [manywor(l)ds]

07/23/2023, 3:12 PM
q for other @User folks out there on payment/setup logistics (sorry in advance for the big ping, and slight wall of text!): we're in the early days of starting up a new (digital-only, for now) magazine, and we're set on paying our creators. PayPal seems like the easiest option esp if we want to handle international payments. I'm based in Canada, while my cofounder is in the US, and for now most of the funds are coming from me. PayPal wants a tax number when setting up a business account, and this is something I totally haven't thought of at all yet actually. is it better to register as a business (LLC/partnership/etc??) or as a nonprofit (??? we're definitely not making any money through this) or to just pay folks through a personal account? the other thing I'm also thinking about is that having a "shared" business account would enable us to keep funds for the mag (incl writer payments, website payments, etc) separate from our own personal funds. and possibly protect either of us if the other person decides to leave? but yeah! looking for advice on how to set stuff up from a legal/financial standpoint and stuff I guess to make payments Work Best