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Updated about 3 years ago on . Most recent reply

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Alberto Vargas
5
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11
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LLC bank account management

Alberto Vargas
Posted

What are some of the best practices in managing the LLC bank account with regards keeping it compliant with rules of separation from personal use (example: can ransfers be made from personal acct to LLC for certain payments?)

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413
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J Zev J.
  • CPA
  • Colorado Springs, CO
258
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413
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J Zev J.
  • CPA
  • Colorado Springs, CO
Replied

@Alberto Vargas - The best way not to commingle is to not pay personal expenses out of your LLC bank account. Also, don't deposit personal income into the LLC bank account. So if you want to pay business expenses and the money you need to do that is in your personal account, you can transfer from your personal account to you business account and then pay the business expenses from the business account.

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