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“Setting up a business checking account ultimately helps clearly separate your business and personal funds, provides more protection to your personal assets and makes it easier to keep track of ...
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A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. [6] The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the ...
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