Separate business/personal accounts?

[pianotune05]

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Hi Dean,
Thanks for the tip.  The account is a personal one that I use exclusivly =
for tuning, and I agree the bank charges for the business types of =
accounts. My wife has a DBA for her cleaning business.=20

You're in Indiana too I see.  Is Terre Haute any larger than South Bend? =
 What is a good way to market this business if South Bend has at least 8 =
other tuners, only one music store?  I'm just getting in to this, and =
I'm having trouble breaking in through the"we already have a tuner =
nonsense. =20
Marshall
  ----- Original Message -----=20
  From: Dean May=20
  To: 'Pianotech'=20
  Sent: Tuesday, January 03, 2006 9:52 PM
  Subject: RE: Separate business/personal accounts?


  Marshall,

  =20

  It does not have to be a business account. In fact, this is usually =
not desirable as banks tend to tack on all kinds of extra charges to =
business accounts. Just make sure all checks are made out to you =
personally and there will be no problem depositing them into a =
"personal" account. If the checks are made out to a business name, like =
Marshall's Piano Service, the bank can balk at depositing them into an =
account that does not have that as a DBA.=20

  =20

  But as far as the IRS is concerned the main thing is that it be a =
separate account, not that it be called business account, just that it =
be an account used exclusively for business.=20

  =20

  Dean

  Dean May             cell 812.239.3359

  PianoRebuilders.com   812.235.5272

  Terre Haute IN  47802

  =20

  -----Original Message-----
  From: pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] On =
Behalf Of pianotune05
  Sent: Tuesday, January 03, 2006 9:39 PM
  To: Pianotech
  Subject: Re: Separate business/personal accounts?

  =20

  Hi everyone.

  I have a seperate account, but it's not a business account.  Would a =
DBA account work as I get busier?  Speaking of busy, any ideas on =
advertising?  I'm not in the financial place to advertise plus we have =
at least 8 tuners in South Bend that I've either met or heard of.  We =
may have more in South Bend  and the surounding area. =20

  =20

  I like the word mingling.  That's how I met my wife.  :)

  Marshall

    ----- Original Message -----=20

    From: william ballard=20

    To: Pianotech=20

    Sent: Tuesday, January 03, 2006 8:49 PM

    Subject: Re: Separate business/personal accounts?

    =20

    =20

    On Jan 3, 2006, at 2:14 PM, Andrew and Rebeca Anderson wrote:

      Co-mingling is what the tax-"services" call it.  Opening a second =
account in the same bank usually works well.  Sometimes they allow you =
to make electronic draws to your personal account but using a cheque is =
better for record-keeping.

    =20

    Let's not overlook having separate business checking and savings =
accounts, so that when you get a deposit on labor yet to be performed or =
invoices for materials yet to arrive, that deposit can sit in the =
savings account and not get dissolved in the daily ebb&flow flow in the =
checking account.

    =20

    Bill Ballard RPT

    NH Chapter, P.T.G.

    =20

    "I go, two plus like, three is pretty much totally five. Whatever"

        ...........The new math

    +++++++++++++++++++++

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