Wondering if you need a separate bank account as a DBA? As a sole proprietor? As a solopreneur?
When you start a business, there are a lot of things to do. It’s really easy to be unsure of yourself. What do you NEED to do right now? What can you save for later?
In this episode, I answer the question “Do I really need a separate bank account for my new business?”
The answer should be no surprise…in addition to answering the query, I give you accounting, tax and just practical reasons to back up my answer, I go into quite a bit of detail behind WHY you should absolutely have a separate bank account for your solo-business.
Mentioned in today’s episode:
- The various reasons supporting my answer – from the practical, to the accounting based, to the IRS-audit based reasons
- A quick tip – the first place you should look to open a business bank account
As always, this is an open discussion so if you have a question that you’d like me to answer on an upcoming episode, send an email to firstname.lastname@example.org.