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Updated over 1 year ago on . Most recent reply

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7
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Tam Nguyen
2
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7
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How to Fund LLCs

Tam Nguyen
Posted

I'm looking to best understand the best way to fund an LLC. I did an initial seed fund but not a lot of money (just enough to open up some bank accounts). Eventually, I would like to build up the LLC business profile where I can secure funds (LOCs) through the business. Unfortunately, until that happens, I will need to continue to fund the LLC when opportunities arise.

Question(s) -
1.  Does it matter how often I should fund the LLC (i.e. bigger amounts with less frequency or smaller amounts with higher frequency)?  Pros/Cons to either path?  My default path at the moment is to fund when needed but not sure if there are tax or other implications
2.  What kind of records should I keep?  For instance, I have a colleague that wants to physically go to a bank to do the funding in order to get a deposit slip as records.   My preference would be electronic transfers but wanted to verify those records are sufficient
3.  Any guidance on how to note these in the LLC meeting notes would be helpful.
4.  Any issues with creating a loan between LLC and myself?  Thought about this but it seems complicated and may negate some of the tax advantages.  Curious if anyone has thought about or done this.

Thanks for all your help in advance.

Most Popular Reply

User Stats

7
Posts
2
Votes
Tam Nguyen
2
Votes |
7
Posts
Tam Nguyen
Replied
Thanks Luis and everyone else for your guidance and thoughts on this.  Super helpful for sure!  This gives me a bit more direction on this.

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