Four bank accounts to keep while running a small business

From: https://www.businessmadesimple.com/zero-to-ten-video-2/?inf_contact_key=b1bb2a19707f7c790d164ca075ccd37e842e902fbefb79ab9abae13bfcb46658

1. Operating expenses.
   • Money from customers. The main account.
   • Donald Miller likes to keep this around $100,000. Payroll pushes it down to $20,000, but then it builds back up.
2. Profit Account.
   • Donald Miller says he uses this as a safety net for operating expenses, but Profit First from Mike Michalowitz says never to touch this to cover expenses.
3. Tax Account.
   • Money that goes to the government.
   • Tax and profit is 50/50.
   • Tax doesn’t become a surprise at the end of the year.
4. Personal Checking account.
   • Give yourself a salary so you live off of your own payroll.
   • If you own the business, the profit money is also yours.

Your business exists so that you can make money to buy investments that also make you money.