By having a separate bank account for business, you can keep your personal and business finances independent from one another. Having a dedicated business account will help you maintain separate financial records for your business, thus ensuring that, should you get audited, you won’t have to pay taxes on any of your non-business income. Also, if you plan on declaring any business expenses or deductions, having a business account will make your business look more legitimate to the government, thus making it less likely that you’ll get audited in the first place!

Finally, a business account will do more than just help you during tax time – it will also give your business a more legitimate, professional appearance to your clients or customers. When you take your business seriously, so will your clients, and this could lead to a greater volume of business in the future.

Keywords: bank account, business,business finances,financial records , non-business income, business expenses, tax time, clients , customers.