Should I put my name on the business bank account?

Question

I'm a health provider and work for someone else as an associate in their office. The office is requesting that since insurance payment checks are made out in my name, that I put my name on the bank account so they can deposit them. That part is ok. My question is what kind of liability do I incur by having my name on their business account? If they do anything questionable with the account or go bankrupt, does that affect me or my credit?

Answer 1

DBA, or Doing Business As, is for owners of a business, and that is not what you want. You want your name on the account as a SIGNER but not an OWNER of the account. As long as this is specified, you have access to the account but are not liable.
Since your name is on the account as a signer, any checks made out to you will be accepted for the account.

Answer 2

regardless of the tax themes, i do no longer think of the financial employer might settle for it. that is one element accepting distinctive procuring and advertising names utilising distinctive financial employer money owed, yet yet another completely having separate companies doing it. The assessments and effects for failing KYB (be attentive to your business) assessments, and funds laundering legislations are surprisingly tight interior the united kingdom - and this possibly contravenes a number of them. certainly, i do no longer think of they might settle for the lack of earnings via in basic terms with the flexibility to cost for the single account! of course the folk with the defninitive solutions are a) the financial employer supervisor interior the 1st occasion and b) an accountant to represent on whether its a pragmatic tax determination.

Answer 3

No but make sure yo are listed as a DBA-- John Jones MD Dba the healing zone ETC

Answer 4

Ah, yes indeed, you must open a business account and make it separate from your personal account.

Therefore, you are reporting your business for tax purposes and are no liable.

Answer 5

ya