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Updated almost 5 years ago on . Most recent reply
Pay mortgage with personal checking account or LLC's account?
I have all my investment mortgages on auto pay with my personal checking account which I like because I have plenty of buffer and don't have to worry about shortages from vacancy loss etc. However I just purchased my first LLC which is attached to a group home I bought under my personal name and am wondering if I should pay the mortgage (conventional residential loan under my personal name) through the LLC's business checking account or I can just keep it on auto pay with my personal checking account. Also, any tax implications? Since my LLC is a single member pass through I imagine it doesn't matter.
Regarding LLC liability protection, that is not a factor because due to the nature of the business it's impossible to keep my name completely hidden, and I have umbrella insurance.