Open a Business Bank Account and Credit Card
- Opening a bank account for your business is a recommended step to separate business assets from your personal assets.
- Opening a business credit card is also a good idea to separate business expenses from personal expenses and build up credit for your company.
- To set up new business account, you typically need the following documents:
- A Federal Tax ID number for the business, also known as an Employer Identification Number (EIN)
- Your Social Security number if you are a Sole Proprietor
- State or local documents that show you’ve formed a legal entity or business structure.