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Mary Witt
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13
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LLC with a business checking account

Mary Witt
Posted

I created an LLC for my rental property and applied for American express business checking account for it. However, Amex combined my personal banking and business checking under the same log in. I read online that I need to separate my personal and business finance to avoid the piercing of corporate veil. But is it ok to have personal and business accounts under the same log in?

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186
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Tony Savage
  • Real Estate Broker
  • San Diego, CA
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Tony Savage
  • Real Estate Broker
  • San Diego, CA
Replied

You're good Mary, 

I have my business accounts under the same log in as my personal.  As long as you manage the cash flow between accounts correctly (no commingling between business and personal accounts) you will be fine.

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