EINs

It isn't easy being patient sometimes, especially when I have this burning desire in me that wants to get this business started. I know I have to be patient though, in order to do it right and lesson the odds of failure. I have always wanted to do this, just didn't know it until 4.5 years ago.

 

Sorry didn't mean to confuse you,but I assumed you had a business name setup bc you were wanting to "open a business acct". I am incorporated in my business name,so yes taxes are paid on what "stays "in that acct that is not a write off. Easier to do quarterly,but unfortunately doesn't always work to our advantage,so sometimes it's at year end. Depends on " constant" revenue.

 

Be careful and heed the warning ...putting money into a business acct that you aren't getting directly from "earned revenue,is not a good idea. I mean if you're only putting enough in just to open it,not so bad,but if you're putting a chunk in and not using it on business expense,not a good idea.

 

Get a good accountant who can help you make proper decisions based on YOUR needs.

AND get a lawyer who you get to know to help you if you have problems.