Business owners should not use a business bank account for personal use. It’s a bad practice that can lead to other issues, including legal, operational and tax problems.
As the company grows, the problems will also grow. That is, if the company is able to grow. Many businesses operated in a fiscally-lax fashion don’t grow the way they should or could.
I suggest you provide the business owner with a copy of this article. It has all the reasons to help you convince him. At the end is a list of best practices to follow.
Can you use a business bank account for personal use?
Posted by lyceum under StartupsFrom https://smallbiztrends.com 1659 days ago
Made Hot by: DigiTechBlog on October 7, 2019 10:40 am
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