News of recession, outsourcing, downsizing which affects even big IT companies are really disturbing. Thinking ahead of a way to support myself when this kind of scenario come is important. Aside from the regular work, I plan to open up a computer training and consulting business. Something in the lines of software or web applications development. This would not be difficult for me as it’s all in line with the work that I have right now. The technical aspect of delivering the services of the business is not a hurdle. But what bothers me is the numerous government regulations and taxes to be accounted for every year.

I remember as a student helping the family run business. Business is a complex thing and it involves a lot of understanding of market and finances. Opening checking accounts to support the financial operation and keeping social security system (SSS) records of employees. Making the accounting books correct, which I highly suggest you get a qualified accountant to do. Accountants can be very expensive, but having their services will free you from headaches later.

In my experience, checking accounts are created to have more balance and check of the money flow. Most of the banks have checking accounts services, but these are premium bank services so they require a fee. I have encountered some banks like WaMu that offers free checking account services.

Let me share some services included in the ordinary free checking account:
- free checks
- free check safekeeping
- free wire transfers

Checking accounts doesn’t always earn an interest, but WaMu’s Platinum Checking account is an exception.

This is a premium checking account service have the following additional features:
- free bank checks
- free money orders
- free Identity Theft Services
- interest on checking account
- access through thousands of ATMs via Debit MasterCard

Running a computer consulting business with these flexible services would make financial matters a little easier.