A separate business bank account protects your LLC's liability shield by keeping personal and business money apart. Mixing them can destroy the legal protection that makes an LLC worth forming in the first place.
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Hey guys, so a lot of clients ask me when or if they should have a separate business bank account for their business. The answer is yes. In all situations when you have a business, you should have a separate business bank account. And the main reason is to help you avoid commingling your personal assets with the business assets, and it'll also keep you much more organized and make your accountant a lot happier. So if you have an LLC or corporation, then you must avoid commingling your assets, because if you do this, then you lose the liability protections that the LLC incorporation provides to you. Thanks, and follow me for more tips that might be helpful to you as an entrepreneur.