I tend to put off things that I don’t understand. One of the reasons I dilly-dallied around on opening up a business checking account was because I didn’t know how I would pay myself if I did that.
I’ve had business checking accounts in the past, but they weren’t for sole proprietorships, so it was easy to determine the circumstances under which money would be distributed.
But with a sole proprietorship, well, all profit is my money. But if I take it out, and then I need to buy something for the business, I’ll have to put it back in again. (I know, not the worst thing in the world.) But what’s the point then of a separate account, if I’ll basically be handling things the same way I did when it was all in my account except with more paperwork?
I didn’t know. And I still don’t know.
Obviously I’ve been putting off figuring it out. The answer is probably something ridiculously simple, but…ugh.
Avoiding thinking about stuff that we’re unsure of is not uncommon, but it can be costly. So I’ll compromise and add figuring this stuff out to my calendar now. At least it will finally get done soon.