Is there really a need for a business account?

Some may beg to differ but it is important to have a business account, and for this reason. What the IRS does is only as good as the fingers typing in the information. Something entered wrong the blame stills falls onto you to correct. IRS decides to shut down or hold your account and if all you have is your personal account then you're shut down both personally and business wise. You should never mix the two just for that reason alone. There are "fee less" accounts out there you just need to do some homework.

 

I'm sure most will say my story is a personal problem. And I agree with that, however it's one I've heard repeated MANY times.

For years (like almost 2 decades) I did not have a separate business checking account. Then after a series of events I wont go into here.
I opened a business account, linked it to our personal account. Changed my direct deposit to it.
Every Tuesday $800 is automatically transferred from business to personal (you pick your own number) The Bill's are all paid, plenty of food in fridge. Money left over to go put to dinner,vaca. Everything we did before nothing has changed. EXCEPT now I have a fat business checking account. Funny how there is plenty of money left over that was never before. Oh and I have business credit.

 

u worked your whole life just to get a 1000,$ . geez how do people survive on retirement.