Questions on business license

[jacksonbuilt]

I live in Arkansas. To become a authorized dealer, I need a business license. The business will solely be e-commerce. I know that I need a business license. My business will based around suspension to programmers.

Will I need to create a business banking account?
Anything else I need to know?

[daleclay]

If you are a DBA (Sole Prop) a separate bank account is not necessary. However, the idea behind having a separate account is to keep all of your business transactions separate from your personal transactions. When tax season rolls around, having a separate account makes reconciling your books way easier.

If you are an LLC or S-Corp, you will need a separate bank account. Either way, I recommend keeping your books on either a software program like Quickbooks, or an online service like Outright. Hope this helps!

[ dale clay ]
daleclay.com