Business Tip #17 for Writers: Business Checking Account

September 17th, 2013 → 12:41 pm @ Carol

As an author, it may seem fine for your business and personal checking accounts to mix. After all, it is simpler to have one account, right?

This is not entirely true.

Here is an excerpt from my book, Business Tips and Taxes for Writers, that reveals the best banking method for your writing business:

“Business owners are usually advised to open a separate checking account for their business. Sometimes sole proprietorships (discussed in my last tip) fear a separate account will be expensive or cumbersome, but it is not so. Many banks offer free checking to small businesses. A separate bank account is not more work; it can actually simplify record keeping . . .”

While it seems easier to have one account, it makes more sense for your writing business to have a separate bank account. You’ll save time too, as you won’t need to separate personal expenses from your business!

Looking for advice for your writing business? Business Tips and Taxes for Writers is just the guide for you!

Carol Topp, CPA