Do I need a separate bank account for my LLC?
I established a limited liability company (LLC) with an EIN. Clients will be invoiced soon. Is it necessary to have a separate bank account for my business? If that's the case, will checks be made out to my LLC (My Webdesign) or to me personally?Yes, a separate bank account is required, and checks should be made payable to the LLC.
What is the point of having an LLC if you don't do this? Because you never treated the company as a separate entity, you may have limited liability for incidents and accidents involving it.
If you have any questions, please contact your incorporation advisor.