From the course: Running a Web Design Business: Defining Your Business Structure
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Opening a business bank account
From the course: Running a Web Design Business: Defining Your Business Structure
Opening a business bank account
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 proprietorships 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're only a 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 applied for a fictitious name, you'll need a printout of the fictitious name registration form to open the business account. If you own an LLC, you might…
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Contents
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Getting started with business names and fictitious business names4m 46s
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Obtaining local licenses and permits1m 7s
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Applying for a city business tax receipt5m 47s
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Applying for a county business tax receipt2m 37s
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Opening a business bank account1m 58s
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Understanding state tax obligations1m 16s
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Understanding federal tax obligations1m 59s
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