bank account?

Discussion in 'Starting a Lawn Care Business' started by lowdakboy98, Mar 17, 2006.

  1. lowdakboy98

    lowdakboy98 LawnSite Member
    Messages: 62

    How do you guys go about setting up a bank account? Do you put it under your registered business name? Anything to know when getting an account? Anything on the topic would help. Thanks
  2. gce_ent

    gce_ent LawnSite Member
    from Texas
    Messages: 93

    Yes put it under your company name. If you get sued and you setup your business right and that person wins a judgment hopefully nothing is in there for them to take.
  3. Mike's Lawn & Snow

    Mike's Lawn & Snow LawnSite Senior Member
    Messages: 362

    yea keep your business checkign with business stuff only and your personal checking with your personal stuff otherwise u get the confused on what to claim what not to
  4. pennypincher

    pennypincher LawnSite Member
    Messages: 34

    Agree 100%. It makes it really difficult to sort through personal checks and deposits to get to business money. How much is your business making, or losing?
  5. Doug Z.

    Doug Z. LawnSite Member
    Messages: 93

    When you go to open your accounts, they are going to ask you for your fed. id number. If I knew the number, I'd tell you who to call to get it. But the bank should be able to give it to you. It only takes 5 minutes to do it, but ever since 9-11, that is required.
  6. daveintoledo

    daveintoledo LawnSite Silver Member
    Messages: 2,587

    sorry but i just have to know..... how have you been in business 8 years, and not alrady have a business checking account to deposit all the checks you get from your customers....
  7. befnme

    befnme LawnSite Bronze Member
    Messages: 1,413

    if you dont have employees you prob will not have a fed tax id number or an e.i.n you can actually get a d.b.a account under you s.s # for the business .it is still seperate from regular checking .but any checking account has to have a taxable entity .if it isnt your e.i.n it's your s.s #
  8. qualitylawnmanagement

    qualitylawnmanagement LawnSite Bronze Member
    Messages: 1,000

    In our state anything with a company name needs a business account.

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