Subscription Based Website

Currently using 2checkout..other options?

[andmunn]

I am currently running a subscribption based site doing about $3000/month in subscription fee's. I've been using 2checkout recently, and wondering if there are better alternatives for me?

Right now, my business also isn't "claimed or registered", so that I don't pay any taxes on the income (which in canada would be 50%).

So, taking these things into consideration, what are my other options? I don't have any kind of merchant account (nor do i know how they really work - and if i need to be a "legal" business to operate a merchant account).

Any input appreciated.

Cheers,
Andrew.

[Corey Bryant]

If you are in Canada, you are somewhat limited. Paysystems or PSIGate are two other options. If you had at least a US business checking account & a US address, that could help to open the door to a lot of other possibilities in the US.

-Corey

[andmunn]

Hey Corey,

Thanks for the quick reply. I'd just like to add that I could, without to much hassle i imagine, open up a USD Business Checking Account. My wife is an American Citizen, and therefore could probably open the account in her name.

Would this open up any doors for me?

Andrew.

[Corey Bryant]

Yes - if you are close to the border, I would suggest opening up a US bank account.

And if she has a SSN, then the discount rates for a merchant account wouldbe about 2.39% & not 4.5% without that.

A lot of companies will not open up a merchant account without a SSN (Social Security Number), but a few will. The ones that will open a merchant account without one, do charge a little more just in case because it is harder to track someone without one.

-Corey

[andmunn]

Thanks Corey!
She does indeed have a Social Security Number. Would she need a proof of "business" (i.e.// some sort of business liscence) to open up a business account in the US?

Let me know, the account would be in Texas, not close, but I travel with her there atleast 5-6 times a year.

[Corey Bryant]

Texas eh? My home state. :)

Not that I know of. If your business is a sole proprietorship, you should be able to just use her SSN. They might ask for a EIN or something similiar. And you can easily get that from the IRS website: [irs.gov...]

I know as far as a merchant account, you could just list her as the primary owner

-Corey

[Essex_boy]

Register for taxes quickly and get a good accountant.

I fell foul of this one once thinking it was clever, its not and I lost a great deal more than back taxes.

Register a foreign corp and base it'offshore'.