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Forum nameFinancial Feast
Topic subjectRE: business bank account.
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=105&topic_id=112&mesg_id=114
114, RE: business bank account.
Posted by TheDesignShop, Sat Dec-30-06 09:10 AM
You should always separate the accounts. For one, book keeping will be so much easier. For two, it's better organization and three, simply separating the two allows for a seperation of business and personal. Although that sounds simple and repetetive, it's a principle quite often overlooked and causes for complications in the long run.

The expense on the business checking is just that, it's an expense and it helps lower your taxes. Without seperating the two, how do you write off your expenses of a checking account if you use it for personal as well. You can't without a fight. So simply seperate the two, mark it down as an expense and move on without the headache and hassle. Your accountant will appreciate you for that, (that is when you get one).

Good luck..