Financial Account Management

[Brutalm00se]

1. I have heard that self employed people should keep their personal and business bank accounts separate. Is that true?

2. If I am supposed to keep personal and business financial accounts separate, how do I manage my Amazon Chase credit card? I have 1 CC that I like to use to get 5% cash back. I want to use it to get 5% back on personal and business purchases. How can I use the card, but keep personal and business separate?

[M-MTax]

You need to keep separate books and records but not necessarily separate bank accounts or credit cards as a sole proprietor.