My MIL and I started a group/club. We are not an official organization with the state or anything. We do collect dues, though. Can anyone tell me how we can get a bank account to put the dues into? Would one of us have to claim that money on our taxes next year? Would we be better off keeping a cash kitty of the funds instead and using a reloadable visa/mc when we need to access the funds? I realize we can't open a bank account in the group name without a TIN of some sort, so that is why I am clueless as to what to do. Thanks in advance!
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