The Smart Way for Small Business Owners to Separate Personal and Business Finances
Hello, I'm Jenie! If you've ever paid a personal expense from your business account "just this once," or deposited a client check into your personal checking account because it was easier, you are not alone. Most small business owners start out mixing their money together, and most of them eventually regret it. Tax season alone makes that clear pretty quickly. I've talked to enough small business owners to know that the money separation conversation usually happens one of two ways : either proactively, before things get messy, or reactively, after a stressful tax filing or an unexpected audit. The proactive version is significantly less painful. Here's how to set it up properly. Table of Contents 1. Why Mixing Personal and Business Money Is a Bigger Problem Than It Seems 2. The Accounts Every Small Business Owner Needs 3. How to Pay Yourself the Right Way 4. Business Credit : What to Get and When 5. The Simple System That Keeps Everything Clean Year-Rou...