Originally Posted by
jwible
Anybody know what kinds of hoops one must jump through to open an account for a team that does not exist except in kit design and members willing to pay? Can I avoid IRS forms? I just want to be able to say "Mr. sponsor just write a check to "insert witty name here"."
Non Expert Advice...I think what you need is called a "DBA Account". DBA = Doing Business As. Ask your bank about opening a "dba Account". Many of them will help you file the necessary paperwork with the City, County, State, etc... to make it legal. Basically the account will be opened with your credentials but you will be allowed to cash/write checks with the business name. I don't think you need to worry about the IRS unless you make some money from the team.