Question by : how do business bank accounts work with irs?
I recently opened an business account for my online business. All the transactions I have in That account, will that have to be claimed come tax time? Pretty much I want to know if the money in my business bank account has to be claimed.
Answer by MadMan
No. The IRS cares about profits, losses and income. They do not have time to look at all your ancillary transactions. Now, if you are laundering money etc., the Treasury Dept. will be interested.
Add your own answer in the comments!