How can I separate my business and personal credit?
What can I do to keep my credit records seperate from each other?
Join us at Entrepreneur magazine's Growth Conference, Dec. 15 in Long Beach, Calif. for a day of fresh ideas, business mentoring and networking. Register here for exclusive pricing, available only for a limited time.A few basics to ensure separation of business and personal credit are:
1. Establishing tax ID for business.
2. Establish separate bank and credit card accounts for the business using its tax ID.
3. If you get loans for business purposes, you can put them under the business name/tax ID. Normally the lender will make you sign both on behalf of the business as well as providing a personal guarantee and putting your personal assets as collateral.
If you have specific questions, you can visit with your accountant or post additional questions.
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