In this episode, Shannon delves into the crucial topic of separating business and personal finances. With her expert insight, she explores three concrete reasons why it's essential to maintain this division. From the impact on tax organization and IRS audits to potential legal ramifications, Shannon provides valuable advice on the far-reaching benefits of this practice for business owners.

What you'll hear in this episode:

05:06 IRS agents expect honesty and organization. Trust matters.

09:17 Commingling funds can pierce corporate veil.

10:46 Separate business and personal to build habits.

If you like this episode, check out:

Why You Need More Than One Type of Mastermind

Want to Leave Your Corporate Job? It's Easier Than You Think

Do You Really Need a Business Plan?

Want to learn more so you can earn more?

Transform your small business journey – download the Small Business $tarter Kit here.

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.