In this video, learn how to set up a PayPal Business Account, so you can start accepting Twitch Donations with your Streamlabs account.
After you verify your PayPal business account and connect your bank account, then you can start accepting Twitch Donations on your Streamlabs account.
-- OTHER NOTES --
-You don’t need a business to use a PayPal business account. You can simply sell under your own name if you don’t have a business. Your own name is just used for taxes as a pass-through entity.
-If you’re NOT a USA citizen/resident and do NOT have a SSN (Social Security Number), you will have to select ‘Company’ instead of ‘Sole Proprietorship’ in Step 1 (03:15) of this video when it asks ‘Which describes your business best’. You will then have to enter in your EIN (Employer Identification Number) or ITIN (Individual Taxpayer Identification Number) instead of your SSN (Social Security Number).
-PayPal Business may take more than a week to get approved/verified
-Twitch/Streamlabs payouts usually are preset to $100.00 (So you won't receive a payout from Twitch/Streamlabs into your PayPal Business account UNTIL you have received more than $100.00 in donations)
-You will NOT get taxed if you NEVER receive any donations
-Twitch/Streamlabs payouts usually are preset to $100.00 (So you won't receive a payout from Twitch/Streamlabs into your PayPal Business account UNTIL you have received more than $100.00 in donations). Further, the FIRST time that you receive your $100 payout in your PayPal account, it may take longer to actually receive this money for verification purposes on PayPal's end, but after that, you should expect each payout to be processed instantly.
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- Video Markers -
0:00 Introduction
0:11 StreamLabs - PayPal Plus
0:32 Signup for PayPal Business Account on PayPal
0:52 Benefits of PayPal Business (Bank Statement Displays Business name instead of personal first/last name)
1:46 Optional: Create a new GMAIL account with a new email
3:04 Fill in the basics
3:16 Sole Proprietorship
3:30 Business Name (Aka 'Twitch' username)
4:18 Product/Service Keyword + Monthly Sales
5:12 Social Security Number + Date of Birth
5:34 Account created - confirm email address + connect bank account
6:13 StreamLabs - Connect/Link PayPal Business account
6:46 Final Words
#PayPal #PayPalBusiness #PayPalTwitch #PayPalStreamlabs
DISCLOSURE 1: I am NOT a tax expert. Please research your local tax laws and this video was made for entertainment purposes.
DISCLOSURE 2: We often review or link to products & services we regularly use and think you might find helpful. Wherever possible we use referral links, which means if you click one of the links in this video or description and make a purchase we may receive a small commission or other compensation.
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