Absolutely an excellent video. I’ve said this content to many clients. It’s better for record keeping and keeping business from personal. I showed your K-1 video to my nephew in-law who is doing an internship over the summer. I recommended to him to watch your videos. I told him it would be a great learning tool and information you will not get in school. You give real business examples and valuable information. Thanks as always for your excellent video content.
Dan I am truly honored for you sharing my nerdy videos haha. I try to show real examples, because that is how I learn and what I will feel will be most beneficial to my viewers. Appreciate all the support and I hope you have a great weekend.
Glad to hear there is an option for free business checking! I'll be looking to do this when I monetize, and 50 bucks a month for a business checking means I should just not monetize. Lol.
There is a handful of free business checking accounts just have to hunt them down :) I always look what is free first. CZcams typically generates very few transactions so it should be easy to find a free business checking with a minimal deposit to open the account.
This was an excellent, excellent video an much needed. Having a B.A. was required for my line of work and it truly has been great to have everything for record keeping right there, come tax time. Thanks for posting this!
Hi RC, great questions. Fees and customer service are two big ones. Sometimes a smaller bank is much better choice, but also should confirm if the smaller bank can link to Quickbooks. I would not recommend B OF A Or Wells Fargo to anyone due to what ive seen over the years.
Hey Omar great question. I have found that just having a business checking is enough. I do not have a separate merchant account for my accounting practice. Customers are easily able to pay me by credit card or ACH via QuickBooks.
Hello, I’m trying to start an Amazon fba seller . Most part I understand but when it comes to taxes, it’s just so confusing. There are a lot of research to do. I like to know everything before doing something. I’m still in the process of setting up my account. So my question is, would you recommend that I get a cpa right now or after a few sells? I know some people start off doing taxes themselves, but I just want someone who knows all about it in the beginning to avoid any mistakes.
Hi Christine, I think consulting with a CPA ahead of time or early on is wise. A CPA can help you learn how to better manage your records and maximize your efficiencies. If you are looking for a CPA for 2022 I can help you. My website is www.mikekellycpa.com I'm located in California, but I work with clients throughout the United States.
Woops, towards the end of the video I think I said Nolo bank, I meant to say "Novo" bank.
I hope this video clears up the question of "WHY" and "When" a business checking account is needed.
Chapters (Time Stamps):
0:00 Introduction
0:43 Reason 1
1:59 Reason 2
2:33 Reason 3
3:55 Reason 4
4:35 Reason 5
5:15 Reason 6
Absolutely an excellent video. I’ve said this content to many clients. It’s better for record keeping and keeping business from personal.
I showed your K-1 video to my nephew in-law who is doing an internship over the summer. I recommended to him to watch your videos. I told him it would be a great learning tool and information you will not get in school. You give real business examples and valuable information.
Thanks as always for your excellent video content.
Dan I am truly honored for you sharing my nerdy videos haha. I try to show real examples, because that is how I learn and what I will feel will be most beneficial to my viewers. Appreciate all the support and I hope you have a great weekend.
Keep up the amazing content. This is my favorite CZcams channel. Love you man!!
M, thanks so much brother! Honored to have you as a viewer. I will keep the content coming.
I like you can build credit with your business account!
It is certainly one of the best features.
Glad to hear there is an option for free business checking! I'll be looking to do this when I monetize, and 50 bucks a month for a business checking means I should just not monetize. Lol.
There is a handful of free business checking accounts just have to hunt them down :) I always look what is free first. CZcams typically generates very few transactions so it should be easy to find a free business checking with a minimal deposit to open the account.
This was an excellent, excellent video an much needed. Having a B.A. was required for my line of work and it truly has been great to have everything for record keeping right there, come tax time. Thanks for posting this!
Thank you so much Elsa! Really happy to hear this video was helpful. Thank you for sharing your reasons for having a B A account.
I gotta work on that... I do have a business account but yet I still use it for personal purposes 🙈
I'm the business bookkeeper. I hate it BECAUSE, my hubby does not tell me what is paid via credit card. If I don't see it, I don't record it!
What are the advantages and disadvantages of having a business checking account with a bank and / or a credit union?
Hi RC, great questions. Fees and customer service are two big ones. Sometimes a smaller bank is much better choice, but also should confirm if the smaller bank can link to Quickbooks. I would not recommend B OF A Or Wells Fargo to anyone due to what ive seen over the years.
@@MoneyandLifeTV Thank you for your quick replies. I thumbs 👍 all your videos I watch first thing.
Thank You good sir!
Do you need a merchant account to start receiving credit cards payments or a business checking account gives you that option? Thanks
Hey Omar great question. I have found that just having a business checking is enough. I do not have a separate merchant account for my accounting practice. Customers are easily able to pay me by credit card or ACH via QuickBooks.
Hello, I’m trying to start an Amazon fba seller . Most part I understand but when it comes to taxes, it’s just so confusing. There are a lot of research to do. I like to know everything before doing something. I’m still in the process of setting up my account. So my question is, would you recommend that I get a cpa right now or after a few sells?
I know some people start off doing taxes themselves, but I just want someone who knows all about it in the beginning to avoid any mistakes.
Hi Christine, I think consulting with a CPA ahead of time or early on is wise. A CPA can help you learn how to better manage your records and maximize your efficiencies. If you are looking for a CPA for 2022 I can help you. My website is www.mikekellycpa.com I'm located in California, but I work with clients throughout the United States.