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when to buy equipment for start up

J P D

New Contributor
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Nov 6, 2007
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Chicago, Il
I posted this in the b&m section but maybe that is not the best place to get a response for this question so I'll try this section.

Should I open a small business bank account before buying the necessary start up equipment and supplies(2500 worth of stuff)? So then all transactions for the business would be done under one account from the beginning? Or does it not make much difference?


thanks
 
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White8

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Dec 6, 2007
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I'm not a CPA but it would be cleaner to create the business account, loan it money in the form of a stockholder loan, and then buy your equipment. Or, another option would be if you personally bought the equipment and leased it to the business.
 

J P D

New Contributor
User Power
Value/Post Ratio
10%
Nov 6, 2007
59
6
Chicago, Il
thanks for the replies,

I think I'm just going to head to the bank and open a basic business checking account tomorrow and then purchase the equipment with the business credit card.
 

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