Kevin asks whether profit and tax accounts should be personal under Profit First. The answer: keep every account as a business account. Mixing personal and business funds creates confusion, so treat everything as business.
I got a great question that came in from Kevin, also around Profit First. He said, "Which accounts should be business accounts, and which accounts should be personal accounts? Shouldn't profit go to a personal account, and perhaps even tax, and the other accounts be business?" The simple answer is this: if you have a business, make all your accounts business accounts. Now, technically, you could have some personal and so forth. But I would argue that that gets a little bit convoluted. So set up all your accounts as business accounts once and for all, and you're done. It's that simple. Wink wink.
