Personal Account vs. Business Account

mydesign

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:

  1. State Issued ID
  2. Social Security Card
  3. Business Name & DBA Paperwork
  4. Tax ID/EIN Number

 

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