New business

[rajee]

Hey guys - I've just opened a single member LLC and have some small costs that are rather urgent. Not a huge cost, but I still want to have a business credit card and business checking account to do all the transactions on. In other words, my question is two-fold:

1. Should I wait till I decide on a credit card/checking account to make the purchase or purchase with personal CC and pay it off with a business checking? (I will definitely have a business checking by the time the bill rolls around lol)

2. Mainly the purpose of this post was to get suggestions on Business Checking and Business Credit Cards. I won't have more than maybe 100 transactions a month to start (and that's way more than I predict, realistically).

[AggieMom]

It is way easier accounting-wise to keep as much separate as you can right from the start. Be very very sure that you pay yourself appropriately. You have to pay yourself a salary and pay taxes on that as you go. Get an accountant who knows the ropes and save yourself some heartache come tax time next year. Trust me on this... :doh: You can pay yourself quarterly or once or twice a year or whatever works for you.

I went to the bank where my personal accounts are and set up business banking there. I got a CC from them at that time. Call ahead and find out what paperwork to bring to set up the accounts.