When we set up our banking, the manager recommended that we set up three different accounts. We have one that is just for online transactions, and we transfer money out of it regularly in case someone online were to get our account information. We have another for business use, such as paychecks, buying supplies, etc. The last one is simply a home for tax money. Every check that we get is split up, with a portion getting saved for taxes. This way we won’t have to scramble to find money when it’s time to pay up. We are really, really proud of ourselves for maintaining this third account, and I defintely encourage other freelancers to set one up. It’s sort of like an escrow account when you buy a house.