Updated about 4 years ago on .
Most recent reply
presented by
Book Keeping on a house hack with my fiance
Hey gang!
My fiance and I just got our first house and we are planning to convert a section of the house to an auxiliary dwelling unit and rent it out. We started a shared bank account and are on our way to setting up Wave as our book keeping software of choice. What I'm wondering now is, should we have set up a shared bank account or should we have set up separate business bank accounts that are dedicated only to the business and just split costs 50/50. Does a shared bank acct or separate accts offer any advantages over the other at tax time?