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daycarediva 05:02 AM 03-29-2017
Originally Posted by AmyKidsCo:
I have a business account that I use for 100% childcare purchases. All payments go into the business account, then are transferred to our family account. Time/Space items are purchased with the family account.

The more you can keep business and family separated (depositing into business account and 100% business purchases from business account) the better if you're audited.
I have payroll (for myself) directly taken out of my business account and direct deposited into my personal checking. ALL 100% daycare use items are purchased with my business checking. I don't have anything except for bills under T/S% really.

Originally Posted by Mike:
Also, business accounts have higher monthly fees, so unless there is a good reason to keep business finances separate, it's just an unnecessary expense. I've had a few businesses in my life and only 2 had a separate account.
Get a better bank! My business account is free.
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