Can I use my personal bank account for my small business?

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If your company is a separate legal entity, business funds must be in a separate business bank account. A sole proprietorship is an unincorporated business that is owned by one individual and is not a separate legal entity. If you’re working as a sole proprietor then your personal and business affairs are treated as one for tax purposes. You are not legally required to have a separate business account but we recommend keeping business and personal transactions separate.

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