Quote Originally Posted by Mick View Post
No, but it could be a BIG issue with the IRS. I wouldn't worry about how much cash they have - that's their worry if they pay in cash. Check with your bank about setting up a business account. I was able to set one up under my personal account but separate. Allows me to keep money separate from personal funds which satisfies the IRS.
Also on that note MAKE SURE you have a tax i.d. number.......you can get it right off the governments websites and the last time I looked it was only 10 bucks. And register your business name and that costs ME 80 bucks......... but you live in different place so that will probably different.