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- - Will I need a new bank account when I switch from a personal to a EIN LLC stealth (https://www.aspkin.com/forums/paypal-talk/100438-will-i-need-new-bank-account-when-i-switch-personal-ein-llc-stealth.html)

freddyg

10-20-2016 02:33 PM

Will I need a new bank account when I switch from a personal to a EIN LLC stealth

Hello

If I change from a personal stealth to an EIN LLC stealth will I be able to use the same bank account for withdrawals from PP?

phaz0rz

10-20-2016 02:46 PM

Re: Will I need a new bank account when I switch from a personal to a EIN LLC stealth

Yes you can still use the same bank account. I recommend you switch to a business bank account if you're going to be handling a high volume of sales. Banks have been known to close accounts when it becomes obvious a personal account is being used for business purposes.

yankee

10-20-2016 05:47 PM

Re: Will I need a new bank account when I switch from a personal to a EIN LLC stealth

To add to phaz0rz, your accountant will also like having your business funds separate from personal funds and if you ever had a state audit, you will like it a lot better too!

But you can use the same account you already have attached.

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