Get Your Business Bank Account
alright. We get to talk about money a little bit. So the best thing to do. And we're going to talk more about money structure later. But you need to start a bank account for your business. I highly highly highly highly recommend you have a separate business, accounting, bank account. And when you talk to your tax person, this will make everything easier when you go through taxes, when you go through payments. When you go through hiring people, it'll just make everything much easier when you separate it from your personal money. Um So in order to do that, you need to go to a bank, set up a business checking account. Um And savings account hopefully. But in order to do that, you need to have done everything else that we've talked about already. The bank account is gonna ask for your business license. They're gonna ask for your federal I. D. Or E. I. N. Number. If you're a sole proprietor, they're gonna ask if you've done a fictitious name. They're going to need all that stuff for you to ...
start a bank account. So you'll have to wait til all your paperwork's in until you get all your numbers. So you get all that information so that when you go in you'll have everything ready to go. It'll all physically be there. It'll make it much easier to start that bank account. Um It'll make your life way easy down the line as we get going. So I know this takes a lot of time before you get all that stuff in. But it'll be well worth it. And you'll be off and running as an official business with an official bank account. Uh and it's gonna make everything so much easier and exciting. Another benefit of having a bank account is, it'll make it easier when people are paying you, you can hook it up to Venmo Paypal. Um and when people write checks to you, they can write your business name versus your name and going into your personal account. It really is the best way to separate everything. It'll also allow you to pay for equipment or have money going in and out of an actual account so that you can track all your business expenses, all your money coming in and out, all your invoices, all that stuff. It'll just make things everything, it'll just make things so much easier to track and function. So for now go to a bank that you trust and get started. Um This is gonna be really great because sometimes starting a business account with certain banks will add on cool personal stuff or make you qualify for certain credit cards and stuff but get going take action and check that off your worksheet