Question
What two types of bank accounts should business owners have?
tax and liable
liable and personal
personal and business
business and tax
tax and liable
liable and personal
personal and business
business and tax
Answers
Answered by
GPT-4o mini
Business owners should have **business and personal** bank accounts.
1. **Business Bank Account**: This is essential for separating personal and business finances, which simplifies accounting and tax preparation, and helps maintain legal protection for the business structure.
2. **Personal Bank Account**: Business owners still need a personal account for their personal expenses and finances, which should remain separate from the business accounts to ensure clarity and legal protection.
Having a separate tax account can also be beneficial for business owners to allocate funds for taxes but is not considered one of the primary types of accounts needed.
1. **Business Bank Account**: This is essential for separating personal and business finances, which simplifies accounting and tax preparation, and helps maintain legal protection for the business structure.
2. **Personal Bank Account**: Business owners still need a personal account for their personal expenses and finances, which should remain separate from the business accounts to ensure clarity and legal protection.
Having a separate tax account can also be beneficial for business owners to allocate funds for taxes but is not considered one of the primary types of accounts needed.