How to open a bank account for your LLC?
Having separate financial entities make it easier for an accountant to calculate the taxes you owe. It lowers your tax bill and it won’t be hard for your bookkeeper to distinguish between your business and personal finances.
In addition, having a separate bank account projects a sense of being more professional that commands respect, establishes trust, and adds more to one’s credibility. This is by influencing the suppliers, vendors, and customers when you have a check in the name of the LLC.
Moreover, opening a bank account provides protection against creditors and lawsuits as members aren’t personally liable for company liabilities and debts.
Here are the steps in opening an account.