I recently opened my first business account for K. Benai Events. One thing I have realized when it comes to managing money as a business owner/entrepreneur is to keep your personal account and business accounts seperate. Having two bank accounts may appear inconvenient, but you should not use a personal account for your business finances primarily because it can affect your legal liability. A few perks to having a business account are legal protection, tax advantages, creditability and convenience.
All you need to get started is below:
- State Issued ID
- Social Security Card
- Business Name & DBA Paperwork
- Tax ID/EIN Number