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  • New LLC

    Hi everyone!

    I am working on a new blog/website targeting my medical specialty (not finance). I recently applied for and received an LLC for this endeavor. Is there a best tactic for opening a small business checking account? I hope for this to be a profitable project in the long run, but this may take years, so I don't know if I want to be paying a monthly fee for a business checking account just to keep everything separate from my personal finances. Can I just pay for things (ie, marketing, webpage management, etc) out of pocket and list them on my tax return separately under the LLC? Any additional thoughts or tips for starting such a project would also be greatly appreciated!! Thank you!

    Also WCI (or anyone really that posts/sends blogs, etc), for your blog post emails that go out (I love these and your site so much by the way) do you use a particular company to send them? I will be using Wix as my website/blog, but they seem to limit the number of free "blasts" to 3 a month, so I don't know whether to just stay with them and pay for additional subscription services to send emails to any subscribers or if I should use another company.

    Thank you again for any help!

  • #2
    I started an LLC in an inexpensive state (less than $50). Found a free business checking account. It'd be worth the $3/month fee (to me) to keep things organized, but you don't have to (IMHO) when you start. I'd suggest you get the email/domain name/etc all organized and see how the process goes!

    I just paid for things out of my pocket for my company, and once I started getting a little bigger I got better organized.

     

    I can't help with the email blasting, but blogging is a pretty collaborative world. @WCI did an interview about how he started blogging:

    https://www.pixelrockstar.com/blogger-interview-white-coat-investor/

    (@WCI, I tried to find the link in your news letter, but couldn't, as the newsletter archive page isn't up to date)

     

     

     

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    • #3
      Hey Tmark,
      I've caught the bug myself and am starting a blog in my medical specialty....(I hope a different one) I referenced WCIs post on blogs to get started. Haven't thought too much about LLC yet though, I'll send you a direct message to discuss.

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      • #4
        Thanks for the suggestions!

        adventure - which bank did you go with for your free checking account? Are you happy with them?

        Thanks again!

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        • #5
          I think it is important to separate your business checking from your personal checking.  Otherwise someone could "pierce the corporate veil" by saying you and the LLC are the same entity.  Even if it won't make money for awhile.  I got an account for free to start with.  I just put $100 in it and there was no ongoing fees.  Check around with several banks.

          Good luck.  Blogging is a ton of work, but it can be rewarding.

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          • #6
            oh and I use MailChimp.com  There are plenty of other choices though for emailing to your subscribers.

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            • #7
              Thanks WealthyDoc! Great suggestions!

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