Agency funds withdrawl

[prateekksingh]

I have a team of freelancers and wanted to create an agency on upwork. But before that, I wanted to know that can I withdraw funds from agency into my individual account or I should incorporate a legal business and then I can withdraw fund to my business acccount? When we fill tax information about an agency, within the section of "Legal name of business", can I put my name?

I shall be highly thankful for clarification on this matter.

Kind regards,

Prateek

[g_vasilevski]

Hi Prateek,

You can withdraw the funds from your agency by using one of our Get Paid Options.
Yes you can use your own name in the section "Legal name of Business", you can also withdraw the funds to your bank account.

It`s best to consult with a tax specialist on how to report your earnings in your country.