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I think we'll be getting our first revenue checks from Google adsense soon and I'd like to make sure we have a business bank account to deposit the money into. We haven't incorporated the business yet or anything. Can I just create a business bank account or do I need to incorporate first? Do I need to take care of anymore admin details before I am able to get the bank account? |
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To get a business bank account, what you really need an Employer ID number (EIN). That way you're registered with the IRS who is very interested to know if you are making money. If you're planning being a real company (a c-corp, s-corp, or llc) as opposed to a sole-proprietorship, you should do that first. If you're planning on operating as a sole proprietor, you can get an EIN right away. So here's the order: 1) Incorporate 2) Get Employer ID 3) Walk in to any bank and open a business bank account. |
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as a follow up question, are you supposed to use your own personal SSN# for the sole proprietorship when signing up for a bank account or are you supposed to apply for an EIN to separate. My understanding is you just use your own personal SSN# since the government does not make any distintion between you and the sole proprietorship. What is your take on it? |
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