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Bornes

Questions re: Organization for an LLC

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Posted (edited)

So my question isn't about forming the LLC itself, but organization afterward.

Here are my (probably dumb) questions:

If I keep good records, do I NEED a business banking account?
I don't expect to make much (if any) money for at least the first 1-2 years. I keep good financial records and am confident keeping it with my personal finances (for the time being anyway) won't be detrimental. But everything I read about LLCs says I should create one?
If I do need one, are there any banks you'd suggest? I didn't do a ton of looking, but what I did see all had fees. Whereas my personal accounts are all free.

How do you deal with Paypal?
Do you get a separate account for your LLC or is it the same as your personal paypal account? Unlike my bank account, I would prefer a separate paypal account for the LLC.
My worry is I don't want my personal information mixed with the business information. As far as I can tell, you can't really pick what information (like name) shows up in invoices and such. It has to be the same name every time, which is problematic since I do a lot of personal online spending.

Anything else I should know? Or helpful tips for "going official"?
Yeah I pretty much have no idea of what I'm doing organization-wise. Though I do know how to legally form the LLC.

Thanks in advance.

edit to add:
What's a good online store that allows you to sell your own physical goods, but doesn't charge a monthly fee?
I don't expect to make many sales for the first few years, so I'd prefer to have a storefront that charges commission per sale instead of doing a monthly fee for the store. I will be making my own physical things so a site like storenvy or society6 wouldn't work (as far as I know).
If it comes down to it, I can always make my own storefront through wordpress but for the time being I'd like to avoid that.

Edited by Bornes

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