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Updated over 8 years ago,
How to Pay Myself
Hello BP Community!
I recently started renting out 2 of the 3 rooms in my house to tenants. I also created a business account for myself where I put their security deposits and monthly rent. I calculate out the utilities and whatnot then I split it three ways and then my tenants write me one big check for rent+utilities per month. I then pay off the utilities and internet using my personal credit card and then I write myself a check from my business account equal to 2/3 of the utilities and internet. I'm wondering if that is an acceptable practice or is that a conflict of interest by using my personal credit card to pay for the whole amount of the utilities...should I change my practice?
Thanks for your future advice! I love this forum!