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How to split business vs. personal finances

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How to split business and personal finances

  • Step 1: Register your business in your home state

  • Step 2: File for an EIN number by going to www.irs.gov

  • Step 3: Open a business bank account with your EIN number

Mistakes to avoid

  1. Do NOT do business transactions from your personal bank account

  2. Do NOT use your personal credit card to cover business expenses

  3. Do pay yourself by transferring from your business to your personal bank account