<p>“Once I started my LLC and realized that I needed to fulfill certain tax and legal requirements, I saw that it would be too time-consuming and potentially cause errors if I didn't have my finances separated,” she explains. Since she was writing off certain business expenses and needed to file 1099s for contractors, she needed to be able to summarize where her business expenses were. “Later, once I got an accountant, they confirmed that separate accounts was a smart move,” she says.And to further facilitate this distinction, Manciagli advises small business owners to establish online access to those accounts.</p>
<p><a target="_blank" href="https://smallbusinessonlinecommunity.bankofamerica.com/community/managing-your-finances/credit-lending/blog/2014/02/19/after-the-startup-separating-personal-and-business-finances">https://smallbusinessonlinecommunity.bankofamerica.com/community/managing-your-finances/</a></p>