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Questions re: Organization for an LLC
Bornes posted a topic in Advice for ArtistsSo 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.