You have to be able to separate your personal money from the business money, not only will this save you when tax time comes around, this will just make book keeping much easier. You don't need to start a business account as that will cost you a lot more money. They will let you open a personal account for your small business, if not find a new bank.
Register Your Business?
Even the smallest home-based operations, are required to register with either their city or county. Check with your city or county office the procedures in filing for business registration.
Some cities make it easy for entrepreneurs to register their businesses, while others have lengthier requirements. Business registration in Fairfax County in Virginia, for example, is fast, simple and takes only about 15 minutes.
In Boston, Massachusett business registration costs $35 and is filed with the City Treasury. This city requires applicants to bring their state gross receipts tax number and the City Health Environmental department clearance, if applicable. Most are not that complicated but check with your city or county before they close you down.
Do I need a License for my Business?
To operate legally, you need to get a license for your business. Particularly if you are selling tangible personal property or taxable service, you are required to file for a business license to ensure the collection and remittance of taxes. Even sole proprietorships or general partnerships, while requiring no legal entry formality, need to comply with state and local licensing and taxation requirements.
Some businesses, such as a food service business, liquor store, construction, wholesale or retail trader, etc., are almost always required to get a license before they can start their operations. Even a business that operates pin ball machines or billiard tables need to secure the requisite license in some states.
To know the type of license required for your business, check with the city office (if your business is located in a city) or the county office (if outside the city limits). In North Dakota, for example, some business licenses are issued by the Attorney General (e.g. amusement games, tobacco, etc.) while other licenses are issued by the Secretary of State.
Some states, cities and counties have websites that contains all the information an entrepreneur needs in terms of starting a business in that particular area.
