A
andagda
Guest
Hi all,
I'm organising a one-day conference to be held next year. It's a completely non-profit affair (I'll be more than likely taking a personal hit for it). There will be expenses (PR, printing, postage, etc.) and incomings (ticket sales).
I'd like to open a bank account that I can use just for this event, as I feel it is important to keep the money related to this event separate from my own personal finances. It would be great if I could lodge cheques to this account that are made out to the event name, as opposed to my own personal name, as I feel this would be more professional for ticket sales.
I've had mixed information from calling my local banks, so I thought I'd ask the questions I have on this forum:
- Can I open a bank account that will do what I want?
- Will people be able to make out cheques to this account name (and not my own)?
- The event will certainly not turn a profit, and I would not be surprised if I am out-of-pocket by the end of it - does this have tax implications?
- What are the minimum steps I would need to carry out to do what I want (I've been told I need to register as a sole trader and then register a business name - is there a simpler way?)
I'm basically looking for the simplest way to do what I want. Any suggestions and ideas would be welcome.
Thanks!
I'm organising a one-day conference to be held next year. It's a completely non-profit affair (I'll be more than likely taking a personal hit for it). There will be expenses (PR, printing, postage, etc.) and incomings (ticket sales).
I'd like to open a bank account that I can use just for this event, as I feel it is important to keep the money related to this event separate from my own personal finances. It would be great if I could lodge cheques to this account that are made out to the event name, as opposed to my own personal name, as I feel this would be more professional for ticket sales.
I've had mixed information from calling my local banks, so I thought I'd ask the questions I have on this forum:
- Can I open a bank account that will do what I want?
- Will people be able to make out cheques to this account name (and not my own)?
- The event will certainly not turn a profit, and I would not be surprised if I am out-of-pocket by the end of it - does this have tax implications?
- What are the minimum steps I would need to carry out to do what I want (I've been told I need to register as a sole trader and then register a business name - is there a simpler way?)
I'm basically looking for the simplest way to do what I want. Any suggestions and ideas would be welcome.
Thanks!