Yes, because Airbnb is regarded as a business. The easiest method to properly track your cash flow is to keep your personal and business finances separate.
The following are the top 3 benefits of business bank account opening for your Airbnb in the long run:
- Professionalism. Sending a bank account along with your company’s contact details to clients helps establish legitimacy and confidence.
- Finance management is simpler. It makes it simpler to keep tabs on your expenditures and track your expenses.
- Less of a tax issue. There won’t be a problem with an audit, and you can utilize all business tax deductions.
To take advantage of the various benefits from banks and taxes, it has long been conventional wisdom to open a separate bank account Hong Kong for your business.
