Lifestyle Business & Passive Income Talk With A Side Of Travel And Gadgets

Passive Income

It’s Business Bank Account Time

Bank AccountJust like yesterdays post this one is kind of along the same lines as do whatever works best for you.

Once you get your company setup & have your Tax-ID from the gov, which should be pretty quick since everything is online; you’re good to go and setup a new account.

Again this isn’t 100% necessary but it’s a big help.   I like keeping everything seperate from my own personal account for bookkeeping and accounting purposes; it makes everything way easier come tax time.   To be honest I’ve found all banks to be pretty much the same; just make sure you avoid any banks or accounts with ridiculous monthly fees.   Your best bet would be to run to the bank you have your personal account with and see what they can offer you.   Make sure to get the most basic account they offer, and don’t spring for any extras they might try to upsell you with.   The starter checks my account hooked me up with after setting up the account should be more than enough for awhile  (they tried to sell me some kind of new business check package).    With everything online you can use online bill pay for almost any payments you need to make.

If you don’t care about your current bank and want to try to snag a deal, look around online for bank promotions.   I just Googled “business bank account promotions 2014” and came back with a bunch of cash back promos if you open up a new account.

Make sure you bring all the new company documents with you, your Tax-ID, and your own personal ID as they’ll need that to get you going.

At least this one is free, so no more money added to the total today!

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