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Updated over 2 years ago,
Adding funds to Business Account
I have an LLC and it has its own business account and credit cards and everything. The business is not generating enough revenue to cover all of the expenses, so when a bill is due, I deposit cash and categorize it as owners equity. My questions is, am I allowed to INVOICE myself from my LLC and record the deposits as sales? For example, I just paid my tax preparer on my business amex. Can i send an invoice from my LLC to myself as an individual, pay the invoice by depositing funds in my business account, categorized as sales? And then use that money to pay my business amex from my business account?
Or, I purchased business use computers through my Quill account, for my partners. Can I send them an invoice and use the money to re-pay the Quill? Or do the funds HAVE to be deposited as owner equity?
I hope this makes sense!