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Stefan DiBella
22,725 PointsWhere to open a business checking account?
If my business is incorporated in Delaware, am located in Texas and plan to do business in different states, where do I set up my business bank account?
1 Answer
Pasan Premaratne
Treehouse TeacherHey Stefan Di Bella,
Opening your bank account in Texas should be fine. Use a nationwide bank that has offices in different states if ease of access is what matters most to you.
Here's some general information on doing business in other states for further clarification.
Stefan DiBella
22,725 PointsThanks for the response Pasan! You guys rock!
Justin Beller
3,124 PointsJustin Beller
3,124 PointsHey Stefan:
Don't know if this is helpful, but I don't think it matters too much where you open a business checking account as long as it is with a bank that gives you good access to funds when you need it, and doesn't charge too much in the way of fees. Bank branches you can reach and good customer service are paramount.
Bottom line is that you want to have a bank account that keeps your business finances separate from your personal finances. Be sure to track your expenses, what you bring in for income, and what you pay out.
Also, don't forget you'll have taxes to pay on your income. Be sure to set aside some of that income in a savings account or earmark it for taxes. You don't want Tax day to come around and not have any money to pay the tax man.
Finally, find an accountant to talk to about your business. It will be worth the time and money in the long run.