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Updated almost 7 years ago,
Tips on Managing a Small Business
As an introduction, I'm not the most organized person. I'm reading "Getting Things Done", and hope to implement that level of organization soon, however it's tough to allocate the proper amount of time.
Anyway, I've recently started an LLC, have my first buy and hold rented out, and am beginning my first flip. I'm doing everything in my name, expect the first house sits in a trust within the LLC. Anyway, the many questions I have:
- What sort of business checking account do folks use? I assume you have a business credit card along with it, for business related expenses. I invest out of state, and believe I'd be best off if I paid for 100% of my travel on my business credit card.
- When you have utilities on for a flip, and the house is in a trust, do you put the utilities in your name or the trust's name?
- How do folks keep receipts organized? I heard ereceipts recommended in podcast 165, I think I'll give that a go.
- What are some other tips and tricks do folks use to make their business run smoother? Apps on your phone, spreadsheets, etc.
Much appreciated!