Is It Better To Open A Corporate Bank Account Or Use A Founder's Personal Bank Account?

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Keep your business and personal accounts separate if you're a startup. There are several advantages to having a separate bank account for your business.

The following are some well-known benefits of owning one:

1. Professionalism. Issuing a personal check to your suppliers or clients may jeopardize your company's credibility in the future. Having a business account only shows that you are serious about your work.

2. Finance administration is simplified. When you keep your business and personal accounts separate, it's easier to track and monitor your spending.

3. The tax burden is lessened. You won't have to deal with an audit, and you'll be able to focus on growing your business.

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