General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated 8 days ago on . Most recent reply

How to separate personal and business expenses
Hello I recently Quit my Job to Rehab properties Full time but always had One Personal checking account where all my rental income goes into about 6k a month i collect cash (easier for me and tenants) But how does one do this i had planned on opening a separate personal account only where i deposit Rental income into but if i do So How will i Pay for modern day living expenses food,bills,car insurance,phone, etc...If ALL my income is going into the business account? because i dont want to MIX the two for tax purposes and how do i know what is considered a BUISNESS expense related transaction when i charge my buisness account?
Most Popular Reply

Have separate bank accounts.