New Seller - Better to set up a business checking account?

Question

Hi, I need to set up my payout. Feeling a bit uneasy with using my personal checking when eBay can also take payment from that account. If I set up a second checking account, should it be a business checking. I am not sure how much and how long I will be selling, but I want to be prepared for taxes down the road. Also, is it worth it to get an LLC?

rfmtm · Answer

While you can if you want, there is no need to have a business checking account unless you are a corporation. Same goes for an ebay business account, and while it does not require a business checking account, it does provide for use of a business name and business tax ID. So for now just open another free personal checking account to use. You might also want to open another ebay account as well to keep personal and business sales separate. You can always change any of this later if needed.