I will have 1 personal account, 1 Swiss account, and 3 business accounts. For the business accounts, I will use different banks from my personal account to make things easier to deal with. However, all of my accounts will feed into my Swiss account. Since all of the money is above board, I am not doing this for tax evasion, but instead security of my funds. I will also need to learn how to use LibreOffice Calc to organize what money goes for what. All money will deposit into the Swiss account, and the spreadsheet will do the separation. The accounts are as follows:
Personal
This account will be the current checking account I have now. When my checking account drops below $25,000 – I will add $225,000 to my account. This will keep me at the maximum of $250,000 limit, and allow me to always have access to my money as I don’t really need to make a $250,000 purchase unless it was a business purchase. My bills will come out of this account. If I have foster children, the money will come out of this account. All of my discretionary spending will come out of this account. I am sure you get the picture.
Business Accounts
Each business will get their own bank account. I will try to find a bank that would make the best match for the business at hand. There will be three businesses that I would need for, and the maximum of the accounts will have to be $250,000. If I had $300,000 and the bank went bankrupt, FDIC will only give me $250,000 which means I lost $50,000. Imagine what it would be like with a $1,000,000 bank account. This is truly a scary scenario.
Swiss Account
This is where the Swiss bank account will come in. All of my money will deposit into this Swiss account, and I will make LibreOffice Calc my friend. The spreadsheet will handle all of the finances without the need for multiple Swiss accounts. The multiple US accounts are needed to provide a name with the account, but with a Swiss account, the money has to come in, I justify the money, and make note of it into the correct spreadsheet. Each spreadsheet will be identified with year-month format, and each sheet will be each entity. So my phone service provider will have its own sheet in the month. My realty company will have another sheet. This will mean 4 sheets for basically every source of deposits (businesses + investment fund). In example of naming, August 2026 will be 2026-08.ods. I am confident that MS 365 will support this format in case my accountant uses MS Office 365. I am choosing LibreOffice for compatibility across all computers since one of the systems will use Senitrus OS which is Linux based, and Microsoft doesn’t offer a solution.