
Ask HN: How do you manage bank account/credit card for single member LLC - kureikain
Hi HN,<p>I&#x27;m starting my business and doing single member LLC. I do some consulting and software as a service. I have married and have kid so this&#x27;s the reason I need LLC to protect my family.<p>How do hacker news user usually manage bank account&#x2F;credit card?<p>Do I have to register for business bank account&#x2F;business credit card? I&#x27;m asking because I just try with my bank and they rejected me despite being a customer for 5 years and have great credit score.<p>But they have no problem to give me another personal credit card. So I don&#x27;t know if I can just use that credit card for my LLC?
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gshdg
I used a business checking account and the debit card that came with it. No
separate credit card necessary, and not asking for a credit card may make your
bank much more willing to open the account because there’s a lot less risk for
them.

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mtmail
My accountant says to keep business and personal expenses separate. You don't
have to, but if there's ever a tax review you don't want them to go through
all your private accounts which is extra work. Same with e.g. computers. You
can continue to use your private computer for work, you can also sell it to
the LLC, long-term it's clearer if the LLC buys the hardware. There will
always be some overlap. For example people usually don't have two mobile phone
or two internet connections, instead (in my case) it's assumed 50% private
use.

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ciguy
I have a personal credit card that's used exclusively for business expenses.
I'm not an accountant though so what I do may or may not work for your
situation. As always, consult a professional.

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kureikain
Thank you. Very good information. Do you also use a business bank account?

