I was planning to monetize my blog on ghost through Stripe, but I found out that I need to create a business in order to receive funds. This of course is obvious in retrospect in order to report income to the IRS.<p>If you have been successful at accepting payment through your business/blog, are you creating an LLC/business or registering your details under your personal account (individual/sole proprietor)? I feel quite lost as I'm unsure of the various options one could take to accept payments.<p>Your advice or guidance to other materials would be appreciated - I'm sure many of us are not familiar with the business-side of things and would like to monetize our work!
> but I found out that I need to create a business in order to receive funds<p>Self employment is just one additional page when you file your taxes, and possibly a license from your local government.<p>Do your own research, this is not financial or legal advice, but for "monetizing my blog on ghost" I wouldn't even go that far. You can have self-employment income without creating any legal entity or doing any specific registration, and it's very easy to pay taxes on it under additional income.<p>Seems like you should be able to set up something more akin to Patreon or just accept donations via PayPal, and if it goes over a certain amount they'll send you a 1099-misc.
Depending on the nature of your business, the extra cost and burden of incorporating may be worth it so as to provide you protection if you're sued. Edit: By protection, I mean limiting your liability.