<html xmlns:v="urn:schemas-microsoft-com:vml" = xmlns:o="urn:schemas-microsoft-com:office:office" = xmlns:w="urn:schemas-microsoft-com:office:word" = xmlns="http://www.w3.org/TR/REC-html40"> <head> <meta http-equiv=Content-Type content="text/html; = charset=us-ascii"> <meta name=Generator content="Microsoft Word 11 (filtered medium)">  <style>  </style> </head> <body lang=EN-US link=blue vlink=purple> <div class=Section1> Richard,<o:p></o:p></p= > <o:p> </o:p> I have two separate accounts. My = business account is a DBA. One of the great things you can do with this setup is = to pay yourself from your business account. I pay myself 75% of the gross = business income. All operating expenses are paid from the remainder, including = all the quarterly tax payments. (I heard about this from Dave Ramsey (radio = financial guy)).  <o:p></o:p> <o:p> </o:p> Before I started doing this, I had = only one account -- everything was so mixed up and I dreaded tax time because = I never had any set aside for the quarterlies, and by April, was always scraping = or using those stupid credit cards. Now, there is always enough in the = account to cover things that I need, whether parts, supplies, gas, new computer, = etc.<o:p></o:p> <o:p> </o:p> I haven’t used Quicken, but = assume it’s similar to MS Money, which I use. Theoretically, you could = separate one account, but why? It doesn’t cost anything other than a set of = checks to get a DBA going, and the benefits of the separate account are = numerous. Within my business account in Money, I have different categories that = make tax time super easy compared to how I was doing it. Things like gas, parts, = office expenses, etc. have been subdivided into the categories that I’ll = have to give my accountant anyway. Why not do categorize throughout the year = rather than waiting ‘til April 14 to do it all at once, right? I had lots = of stress from doing it the other way and finally decided to get organized. = Have never regretted it.  J</fon= t><o:p></o:p> <o:p> </o:p> Hope this = helps,<o:p></o:p> <o:p> </o:p> <div> John Formsma<o:p></o:p> <o:p> </o:p> <div class=MsoNormal align=center style='text-align:center'> <hr size=2 width="100%" align=center tabindex=-1> </div> From: pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] On Behalf Of Richard Morgan Sent: Tuesday, January = 03, 2006 9:05 AM To: pianotech@ptg.org Subject: Separate business/personal accounts?<o:p></o:p> </div> <o:p> </o:p> <div> <div> <div> Hello, all.<o:p></o:p> </div> <div>  <o:p></o:p> </div> <div> I'm a new tuner, after years in academia, and newly returned to = the self-employed field.  How important is it to have a separate bank = account for my piano tech income?  Can I achieve an appropriate level of separation using Quicken, and 'subdividing' my single bank = account?<o:p></o:p> </div> <div>  <o:p></o:p> </div> <div> This list has already been marvelously instructive, even the = very long string following Susan's New Year's Rant.  As you might imagine, I = am struggling with how to price myself/my = services.<o:p></o:p> </div> <div>  <o:p></o:p> </div> <div> I'll not respond to each response, but will appreciate the input = each person provides.<o:p></o:p> </div> <div>  <o:p></o:p> </div> <div> Thanks,<o:p></o:p> </div> <div> Richard<o:p></o:p> </div> </div> </div> </div> </body> </html>