Redeemed Tax Tip #2: Keep business and personal finances separate
A common mistake of small business owners is to commingle business and personal funds. It’s important to have a separate bank and credit card account for your business. This will make things a lot easier when it comes to managing your books and getting things organized for tax time. If you are ever audited by the IRS you want to make sure that you can produce documents that support legitimate business expenses. Contact Redeemed Business & Tax Services for guidance on how to go about keeping these expenses separate and opening a business bank account.
By Tasha Sims
Redeemed Business and Tax Services
3911 Long Beach Blvd. Ste A
Long Beach, CA 91786
PH: (562) 606-2531