How you bank as a business owner affects all of your business finances — it’s imperative to avoid costly business overdraft fees, important to choose the right banking partner, and crucial to save as a business owner. Our Business Banking content will guide you on your path to a great banking relationship.
When it comes to filing your taxes, no business expense is too insignificant to consider. Even the smallest fees — such as overdraft fees — are important to reducing your overall tax burden...but they're often overlooked.
Overdraft protection is typically used as a cushion for checking accounts, but it can also be applied to savings accounts.
Although not nearly as ubiquitous as business checking, business savings accounts are becoming more and more popular among forward-thinking entrepreneurs.
Business checking accounts tend to come with more limits and fees than personal checking accounts, so getting the right account for your needs is important.
A business savings account can be a useful tool for small-business finances. Business savings accounts can help your business keep extra cash on hand to deal with emergencies, help you smooth out your cash flow and save up for larger planned expenses.
One particular question that many new business owners encounter is the role that a federal Employer Identification Number (EIN) plays in your business checking account. Is this really a necessary step to create a business bank account, and if so, how do you get an EIN?