When to separate your personal, business accounts

December 13, 2018
By : Admin
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Financial News Update

The question of when a business is big enough for a separate business account is a tricky one.
Although, there are differing opinions on the subject, it is always best to have a business bank account, regardless of the size of your business.

In fact, small business owners are wise to open a business account before making any business transactions, according to due.com/blog.
There are several reasons to separate personal and business banking but the primary reason is that is never a good idea to mingle funds. Commingling funds open the door a piercing of the corporate veil which can personally expose you to your business’s liabilities. Mixing personal and business funds can also lead to accounting and tax problems in the future.

When to separate your personal, business accounts

When to separate your personal, business accounts

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