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Updated about 11 years ago,

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4
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Duane K.
  • New Market, MD
0
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4
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Entity Structure Bookkeeping Questions

Duane K.
  • New Market, MD
Posted

Hello all, I'm in process of setting up my entity structure, I'll have a holding company LLC and then two property LLCs with one property in each. I've got a checking account open for each already and understand the non-mixing of business and personal expenses to keep the corporate vale protection. I have some questions on the details though.

An example is how I handle expenses for the entities themselves (not specifically property related). Such as my legal fees for setting up the entities or legal fees for filing the Articles or registered agent fees and things like that. Other then maybe the registered agent fees, those bills are billed to me. Should I pay them personally or from my entities' accounts?

What about general business expenses? For instance I had a $125 bill from my lawyer for asking various questions about my entity structure, but not one LLC specifically. Would that simply be paid by me personally?

Thanks!

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