My accountant friend just told me to stop mixing business and personal accounts
We were grabbing coffee and she flat out said, 'You're making your own tax season a nightmare.' I'd been using one checking account for everything for two years. Has anyone else made this switch and actually felt less stressed?
My buddy ran his freelance work through his personal account for a year. Come tax time, he spent a whole weekend just sorting through coffee and grocery purchases to find his business expenses. He opened a separate account the next week and said it cut his prep time in half.
My first year freelancing I had over 300 transactions to sort through. I almost cried trying to remember which lunch was a client meeting and which was just me being lazy. A separate business debit card was the best twenty bucks I ever spent.