Join Martha Garzon for an in-depth discussion in this video Opening a business bank account, part of Running a Web Design Business: Defining Your Business Structure.
…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 bring the articles of organization and…
- Understanding your business-structure options
- Choosing your business structure using five key questions
- Establishing business names and fictitious business names
- Obtaining local licenses and permits
- Applying for city/county tax receipts
- Opening a business bank account
- Understanding state and federal taxes
Skill Level Beginner
1. Overview of Business Structures
2. Sample Businesses
3. Forming a Sole Proprietorship
4. Forming a Limited Liability Company (LLC)
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