Business Account 99%

If you mix personal and business funds in one account, a court can argue that the business is not a separate entity from you. This "pierces the corporate veil," potentially leaving your personal savings on the hook for business debts or lawsuits. 2. The Practical Benefits

When April rolls around, you won't have to spend hours scrolling through bank statements trying to remember if a $40 Target charge was for office supplies or groceries. Every transaction in your business account is a documented business expense. business account

Not all business accounts are created equal. When comparing providers, keep an eye on: If you mix personal and business funds in

A place to park your tax reserves or emergency funds while earning a bit of interest. The Practical Benefits When April rolls around, you

Paying a vendor or receiving a payment via a personal account can look amateur. A dedicated account allows you to send and receive payments under your business name.

Opening a business account requires more paperwork than a personal one. Generally, you will need: