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Updated over 7 years ago,

User Stats

3,926
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4,385
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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
4,385
Votes |
3,926
Posts

Funding my LLC, need advice.

Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
Posted
I know I should probably consult a CPA on this but I'm sure there are a few that can share their experiences. I have a newly formed LLC that I will be using to hold my rental properties. Since I want to keep my business and personal bank accounts separate, I opened business accounts for the LLC. Of course I have to initially fund the LLC with personal funds and plan on depositing a decent some of money ($20-30k) from a personal account into the business account so that all business transactions go through the business accounts. Are there any precautions I should take before doing this? Are there tax implications? My wife and I are 50-50 partners in the LLC if that changes anything. Thanks for your input!

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