Questions

I have an llc and still learning the benfits of having it when it comes to taxes etc.. I'm still using my SS and personal name for clients checks to send me. However, I want to pay for some stuff that contributes to my business products with my money. How do I go about that? I have a business account- can I write that off?

Yes, you can use personal money to pay for business expenses (just not the other way around.) In fact, most businesses start up this way with the owners putting their personal money into the business to get things started. In the end, the accounts track it all when they balance the books. If the money put into the business is more than the money you get out, it comes out as a loss for the year. But I do suggest you talk with an accountant.


Answered 8 years ago

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