Re: Adding business name to personal checking account
getting loans will be easier as well if you have your business separated, also some times the way things are deprecated and or deducted from your tax liabilities can make a world of difference on some items, much easier to deduct the truck completely and its expenses, than on a personal tax where you may have to split it 50/50 or may not be able to take it off your taxes depending on how it is set up.
and getting some tax advice and how to set up things and depreciate equipment and the rest of what goes on when money is involved you should be looking into, you may have to pay quarterly income tax, and so on,
so keeping it all separate is a good deal, yes there are a few addition cost as two accounts and additional checks, but I think for the most part that is very minimal, for what gains there are in the better record keeping,
I did not catch if your married or not, but having separate accounts so you know what you have in the account at any given time is worth a lot, and some people do not understand "working moneys" that yes it spendable but not for non business items, that is not to say your spouse should or should not have access to the account, but that one is for business items and one is for personal items,
Pay your self a wage or a salary to your personal account, just as if your an employee,
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