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Updated about 6 years ago,

User Stats

91
Posts
59
Votes
Mark W.
  • Investor
  • Rochester, NY
59
Votes |
91
Posts

Structuring accounts

Mark W.
  • Investor
  • Rochester, NY
Posted

At the moment I have separate savings accounts set up with a single bank. Some of the savings accounts are personal, while the others are what I would consider "business" savings accounts: property tax escrows for the rentals and security deposits. Separate, unique account numbers for all.

At some point in the not-so-distant future I am going to set up an LLC for the business, so I understand I will need separate accounts for the business. Does having the separate savings accounts as I mentioned above fit the bill? Or does it have to be at a separate bank with a separate login totally unrelated to my personal financial accounts?

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