Small business checking accounts let business owners (you) manage their taxes, legality and money issues in a practical manner. As an aside, customers, suppliers and clients can write checks to the business itself, adding more professionalism to the small business.
Here are several differences between business checking accounts and personal accounts – as well as why it is worth your time and effort to keep business expenses from being attached to your personal banking accounts.
1. Legal Protection
Using a personal account for business finances is a huge no-no, as it increases the chances of affecting your legal liability. Whether you set up an LLC or corporation, you are given liability protection.…Continue reading