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re: Partnership bank account
Posted on 7/30/15 at 12:00 pm to gamemc
Posted on 7/30/15 at 12:00 pm to gamemc
There are so many horror stories, busted friendships, and legal cases that begin with
Form an LLC, register with the state (you can get the documents off the sec of state website, fill them in) draft an operating agreement (pay a few bucks for a template), get an EIN.
Go to bank with all of this and open a business account.
This is what I would do.
If you refuse to do this, then I will say that some banks will allow you to use one of your SSNs with a d/b/a. However, I would beg of you to not do this.
quote:
A friend and I are going to do a few small projects together to makes some extra cash on the side
Form an LLC, register with the state (you can get the documents off the sec of state website, fill them in) draft an operating agreement (pay a few bucks for a template), get an EIN.
Go to bank with all of this and open a business account.
This is what I would do.
If you refuse to do this, then I will say that some banks will allow you to use one of your SSNs with a d/b/a. However, I would beg of you to not do this.
1
Posted on 7/30/15 at 1:47 pm to LSUFanHouston
Yeah I hear you on the horror stories. That's why I want to be sure we're doing things the right way from the start.
I hate that it's going to require so much effort just to test the waters on this business idea but I think you're right. And hell if it doesn't work out at least this whole process will be experience gained.
Thanks for the advice!
I hate that it's going to require so much effort just to test the waters on this business idea but I think you're right. And hell if it doesn't work out at least this whole process will be experience gained.
Thanks for the advice!
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