Necessity of LLC/Corporate business account

General Real Estate Investing
1

Hello, good day to all viewing this post,

Is it necessary to establish a corporate/business account if your LLC is formated in partnership structure?

Thanks to all suggestions and replies.

2

Any entity should have its own bank account. Otherwise, it looks & acts less like a business and is more likely to be disregarded (“piercing the corporate veil”) if push should ever come to shove in a courtroom. Also, it’s much easier to track a business’ finances if it has a separate bank account.

John Hyre

3

Thanks John Hyre for your response in regards to my inquiry. Have an excellent day and continued success in investing.