Bank Accounts
Hello,
My business partner and I are setting up an LLC and I was just wondering some opinions on setting up bank accounts. We plan on running every thing from our personal accounts untill we get a few deals under the belt. Would it be strongly reccommended to then set up a buisness account at a bank to run transactions? Or can we just keep our seperate accounts untill we get bigger. Basically, I just was wondering what has worked best for those currently in parnerships or have knowledge of them. Mostly regarding accounting efficiency, tax advantages and whatever else one can think of. Thanks a ton for the help...Robert 
[ Edited by SlickRob on Date 05/07/2005 ]
edmeyer is absolutely right. If a judge sees that you run your business and personal life out of the same account, he will disregard your corporate liability protection and the plantiff can go after your personnal assets.
Thanks alot for the insight. I will definitly consider setting up an business account as soon as possible. The liability issue alone is worth it. Take care -Rob
Yes capital gains my friend