Quoted from jfh:Why a separate business checking? I understand separate/different account numbers but what difference does it make if it’s a business account?
Good question. I have accounts at 3 banks to.
I have had a wholesale lic, reseller lic bussiness lic for over 30 years. I have a great cpa tax guy and it all works very well.
To be honest if there is any funny bussiness with any my bussiness stuff the banks treat it much more seriously than your average Joe personal bank accounts. I also just walk up to vault teller/buss teller no lines. All fees with any of my banks are a tax deduction.
And Yes, I have claimed profits on pinball bussiness for years, and paid taxes. Sometimes throwing the IRS a bone keeps them off your back.