@BatuhanSahin Yes, you will be the business. It would be classified as a sole proprietorship. Your name can be the business name or it would be considered "YourName DBA ISellCakes" etc. The DBA stands for doing business as.
So you can sell things and take credit card payments. Many sellers are considered small business like this. I will let you know that there are IRS rules that require square to issue a 1099-k form if you process a certain amount of credit cards.
"All credit card processing companies, including Square, are required by the IRS to report the earnings of those merchants who process over $20,000 and 200 credit card payments (cash excluded) per calendar year. If you are a resident of Massachusetts or Vermont, we are obligated to report the earnings of merchants who process $600 or more. A 1099-K is the information return that is given to the IRS and qualifying customers."
So even though you didn't start a business, you will still be doing "businessy" things.
Hope this helps,
Donnie-M
Donnie
Multi-Unit Manager
Order Up Cafe/Tombras Cafe/Riverview Cafe/City County Cafe
Roddy Vending Company, Inc.
www.OrderUpCafe.com
Using Square since July, 2017
Square Super Seller
Square Beta Team
"Good judgment comes from experience, and experience comes from bad judgment."
"You can have everything in life you want, if you will just help other people get what they want." Z.Z.
Do you want to have great restaurant menus that are easy to edit and don't cost a fortune? I use MustHaveMenus and you can too!
MustHaveMenus
