Business banking accounts provide legal separation between personal and business finances, professional credibility, better expense tracking, potential tax benefits, and access to business-specific services like merchant accounts and business loans.

Consider factors like monthly fees, transaction limits, ATM networks, online banking features, customer service quality, loan products, and whether they specialize in your industry or business size.

Typically required: EIN (Employer Identification Number), business formation documents (Articles of Incorporation/Organization), business license, personal ID, and initial deposit. Some banks may require additional documentation.

Maintain minimum balances, use in-network ATMs, set up direct deposit, bundle services, monitor transaction limits, and regularly review your account terms to avoid unnecessary fees.

Choose based on liability protection, tax implications, and operational needs. LLCs offer flexibility and protection, corporations provide maximum protection but more complexity, while sole proprietorships are simple but offer no liability protection.

Include executive summary, company description, market analysis, organization structure, products/services, marketing strategy, funding request, financial projections, and appendix with supporting documents.

Requirements vary by industry and location. Common needs include business license, federal/state tax IDs, industry-specific permits, zoning permits, and professional licenses. Check with local, state, and federal agencies.

Obtain proper business insurance, maintain corporate formalities, separate business and personal finances, protect intellectual property, use contracts and agreements, and comply with employment laws.

Aim to save 10-15% of your income for retirement. The earlier you start, the less you need to save due to compound interest. Consider maximizing employer 401(k) matches and using IRAs for additional savings.

Traditional IRAs offer tax deductions now but taxed withdrawals in retirement. Roth IRAs use after-tax dollars but offer tax-free withdrawals in retirement. Choose based on current vs. expected future tax rates.

Diversify across asset classes (stocks, bonds, real estate), consider your risk tolerance and time horizon, use low-cost index funds, and regularly rebalance. Start with target-date funds if you're a beginner.

An emergency fund covers unexpected expenses like job loss or medical bills. Save 3-6 months of living expenses in a high-yield savings account for easy access during emergencies.

Essential coverage includes health, auto (if you drive), renters/homeowners, and life insurance (if you have dependents). Consider disability insurance and umbrella policies for additional protection.

A common rule is 10-12 times your annual income, but consider your debts, mortgage, children's education costs, and your spouse's earning potential. Term life insurance is typically most cost-effective for most people.

HMOs require primary care physician referrals and in-network providers but cost less. PPOs offer more flexibility to see specialists and out-of-network providers but have higher premiums and deductibles.

Yes, if you depend on your income. Short-term disability covers temporary disabilities, while long-term disability protects against permanent disabilities. Many employers offer group coverage at lower rates.

Discuss financial goals, debts, and spending habits openly. Consider joint vs. separate accounts, update beneficiaries, review insurance needs, and create a joint budget and financial plan.

Budget for healthcare costs, childcare, baby supplies, and potential income loss. Open a 529 education savings plan, increase life insurance coverage, and update your will and beneficiaries.

Save for down payment (typically 10-20%), closing costs, and moving expenses. Improve your credit score, reduce debt-to-income ratio, and get pre-approved for a mortgage to understand your budget.

File for unemployment benefits immediately, review and reduce expenses, avoid early retirement account withdrawals, consider COBRA for health insurance, and update your job search budget.

Itemize if your deductible expenses (mortgage interest, state taxes, charitable donations, medical expenses) exceed the standard deduction ($13,850 single, $27,700 married filing jointly for 2023).

Ordinary and necessary business expenses including office supplies, business meals (50%), travel, professional development, equipment, home office expenses, and business insurance are generally deductible.

Maximize retirement contributions, use tax-advantaged accounts (HSA, FSA), time income and deductions strategically, consider tax-loss harvesting, and explore business structure optimization with a tax professional.

Consider professional help if you have complex situations like business ownership, rental properties, significant investments, major life changes, or if you're facing an IRS audit or owe back taxes.