Business Vs. Small Business Vs. personal

[Jarrett Mel Williams]

I just secured a contract on my first property. I am looking into creating an account with a separate bank from my own finances.

I am trying to decide, with this being my first property, should I just set up a new personal account for my property finances or create a business account specifically. 

[Scott M.]

Depends on if you have a business. Did you open an LLC, S Corp etc? If so, yes, you would get a bank account for that business. If not, personal is the way to go.