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356: OPEN FORUM SHOW - Answering Difficult Tax, Legal & Business Questions356:

Main Street Business

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How to Set Up a Bank Account in an Escorp?

Businesses should have separate bank accounts for their different business entities. This is something for everybody, just for ass at protection purposes. If a lawsuit happens on one of those, you'd better be treating those entities like they're separate if you want the court to treat em like it's separate. Do not be lazy and keep all your income and pay all your expenses out of one bank account,. cause you're lie. Whe i got five l c for five renels, and i don't want to have to deal with all those bank accounts. Buld, you want separate liability protection.

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