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Business

Income

This topic contains 1 reply, has 1 voice, and was last updated by  David Crabill 6 years ago.

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  • #17469

    Jessica S

    I live in Missouri and was wondering if I have to open a separate bank account for money going towards or coming into my CFO business? And also do I need to report profit/loss from it on my taxes every year?

    #17497

    David Crabill
    Keymaster

    No, you don’t need a separate bank account if you’re a sole proprietorship. You do need to report your income on yearly taxes, and you may need to pay quarterly estimated taxes if you make enough money.

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