Short Answer: Yes. A dedicated business bank account is strongly recommended.
Why It Matters: Keeping business and personal finances separate simplifies bookkeeping and tax preparation, demonstrates professionalism, and helps reinforce the legal separation between you and your business. Mixing funds can jeopardize the liability protections your entity is intended to provide.
Common Mistakes: Paying personal expenses from the business account; depositing business income into personal accounts; commingling funds.
Michelle's BottomLine: Treating your business finances separately from day one is an important part of protecting the integrity of your business.
