Hello everyone and welcome back to another post! In todays blog post I wanted to give you all some insight into how and why I setup my Peerspace account under my father.
There were 3 main reasons that I chose to do it this way. Firstly was the fact that I am of course, still a minor and it would not make sense to most people that I am running a business like this. Which would lead to less bookings and less trust in our listing. It also would seem suspicious to anyone looking at the property if it did not appear to be under an adult.
Secondly we chose to setup the account this way because of our banking and tax situation. I have my own bank account however, I do not use it frequently and I certainly have no clue how to file a tax return. But thankfully my dad does file his taxes yearly and so it makes it considerably easier to manage all the money we generate by having it under his name as he can include it in the taxes that he already files.
Finally we setup the account this way to essentially keep my online image away from others. While I do have a youtube channel, I don’t have that much of an online presence. The thing I am the most related to is this blog post but, other than that I don’t really make too much content, or many appearances on the internet. So my parents felt that it was best for it to stay that way at least until I am an adult. Which is why our account is under my dad. I still am able to manage bookings and send messages to guests that way my parents don’t have to with their already busy schedules. And they make sure I help out by cleaning up after the fact.
If you are a minor who is also interested in starting a business like this, then I would sincerely recommend that you setup your account in a similar way so that you can avoid any issues I mentioned above.
I hope you all enjoyed and I’ll see you next time! If you found this post interesting make sure to check out one of my other posts, like the one where I explain how I became a Peerspace power host in my first 6 months using the site!