Importance of Opening a Business Bank Account
To open a business bank account requires you to have a business. Like EIN number, LLC or whatever. If your podcast is starting to make some significant revenue, you will want to have a dedicated business bank account for that income. Having a business bank account is simply the right way to do business; it lets you separate your business and personal expenses, it helps you build credit under your business’s name and it can make it easier to manage your documentation and details for tax time.
Setting Up a Business Bank Account for Your Podcast
After forming your LLC for your Podcast, you will be able to get an Employer Identification Number (EIN, US Tax ID) for your podcast business, which will also help you set up a business bank account for your podcast. Forming an LLC for your podcast will allow you to get an Employer Identification Number (EIN) for your company, as well as assist you in opening a business bank account. If your podcast is profitable, it is a company that should be run as such.
Protecting Your Podcast Business
A podcasting business is very public by nature, so podcasters typically need to protect their personal privacy. The last thing you want is a super fan to find your address and show on your doorstep. Having an LLC also gives you exclusive rights to your business name, so you won’t have to worry about another podcast stealing your name.
Benefits of Podcasting for Your Business
But a podcast can be much more than just a niche audio program. It can be a powerful tool for businesses and those looking to build their brand, too. Let’s check out a few benefits you can gain from starting a podcast for your own business. Content marketing is the practice of providing valuable information to your target audience to build a long-term relationship of trust with them.
Does a Podcast Count as a Business?
While it’s not legally required to register as a business or get a license, it’s a good idea to start an LLC for your podcast. LLCs and other business structures help protect your personal assets from business risks like debt and lawsuits.
Making Your Podcast Official
You don’t need huge budgets or lots of time to start and run a successful business podcast. But you do need an area of expertise that allows you to provide valuable insights to a target audience. If that describes you, starting a podcast is a great way to establish yourself as a thought leader and drive interest to your business.
Protecting Your Podcast Content
You can protect your podcast content by knowing Fair Use laws to prevent accidentally using others’ content without permission or having your own content stolen.