How to separate business finances from personal finances
Posted by Josh Taylor / October 2, 2013 DUNS Numberpersonal finances
It’s becoming easier and easier to get your finances into a tangled mess of work and life. There are three easy ways to keep the two separate, though. Here’s one:
Get a DUNS Number
Keeping your personal finances separate from your business finances is important for creating a good business credit history and applying for business loans. A Dun & Bradstreet DUNS (Data Universal Numbering System) number, like your federal tax EIN, can help your business establish a credit history that is specifically business-oriented.
- Your DUNS number only reports your business transactions and credit history to credit agencies; your personal credit is not connected to your DUNS number, so even if your personal finances become damaged, your business credit will be unaffected.
- You can order your DUNS number online or over the phone; there is no charge for obtaining a number.
For the rest, see the full article.
Via Resource Nation.
Photo credit: Fotolia
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