How To Keep Your Business And Personal Finances Separate
It can be difficult to keep your business and personal finances separate when you own a small business. It is especially challenging to keep your accounts divided if your business is structured as a sole proprietorship. Since sole proprietorship is considered a nonentity, there is no legal separation between you and the business. Q3 2021 hedge fund letters, conferences and more When you set up your business as a Limited Liability Company (LLC) or corporation, however, you must have separate business bank accounts. Keeping the two separate, no matter how your business is structured, will create...