From the course: Running a Web Design Business: Defining Your Business Structure

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Opening a business bank account

Opening a business bank account

From the course: Running a Web Design Business: Defining Your Business Structure

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Opening a business bank account

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In this video, we'll discuss the importance of opening a business bank account and applying for a business credit card. These processes are the same for sole proprietorship and LLCs, so you'll see the same video in both chapters. First and foremost, whether you're running a sole proprietorship or an LLC, it's essential to separate your business finances from your personal finances. Trust me, it will save you lots of headaches and it will make record keeping a breeze. Most business bank accounts have monthly fees or a limited number of free transactions. So before selecting a bank, do some research and try to find the best deal for your company. If you only sole proprietorship and you didn't apply for a fictitious name, the business bank account will be created under your legal name using your social security number. If you apply for a fictitious name, you'll need a print out of the fictitious name registration form to open the business account. If you own an LLC, you might need to…

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