Defining and separating business and personal expenses is something all new business owners should know. Aside from things becoming messy, you are also putting you and your business into a major risk as well as a stressful audit. You might think it’s okay to occasionally use your business account to pay your utility bills but comingling your business and personal fund will get you in trouble with the Internal Revenue Service. To avoid this, one should know about the dangers of mixing personal and business expenses. Having a bookkeeper will also help in managing business finances and acts as the backbone of the company.