Hi everyone,

My wife and I would like to create a Tyme bank business account (Sole proprietor) with the purpose of keeping house expenses (running expenses) and future income (rentals) in one separate account for easier management and tracking (keep transactions out of personal accounts).

However, we are unclear on the following:

1) If we are both funding the account monthly, how does this work with regards to tax? Similarly, how would this work when we start generating income from rentals?
2) Apparently female (and married?) persons are taxed less - is this true and would this apply here? The account will be opened in my name, though I am currently earning a higher salary than my wife. Should the account then rather be opened in her name?
3) Overall, is this a good solution to having a separate household account - or is there a better way to go about it?



Any advice will be super appreciated!