- Credit Card
- Real Estate
Say I invest and I’m self-employed. I have one “personal/everyday” account, but would like to separate another account purely as a “staging account” which would be used for investing and business, but would have the option of being used for personal/everyday too if needed (backup).
I don’t intend on using it for personal use, but I mean it’s just as possible. I use the word “staging” to mean a place where money will go before it’s invested, withdrawn, transferred, etc. This account can also accept money and hold it from business transactions/sales, and possibly transfer some to the personal account if there’s no need for reinvesting said amount/percentage.
I don’t see the benefit of a real business account because those have features specific to maybe corporations, LLC, and etc. — nothing beneficial to a sole proprietor who has no reports/employees.
Also, business checking has fees — an additional “regular” checking would have no fees. I can bookkeep and manage the alternate account identically as a business account for expenses, business fees/deductions and etc. For these reasons I ask:
Would there be any benefit to a “business” account for me if I can already foresee an identical, separate checking account for business that’s just an additional checking account?