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Updated over 1 year ago on . Most recent reply

Yi Chu's profile image
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Yi Chu
  • Member since Oct 23, 2023
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27
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Yi Chu's profile image
Yi Chu's profile image
Yi Chu
  • Member since Oct 23, 2023
Connect
Yi Chu
12
Votes |
27
Posts
Tax, SDIRAs & Cost Segregation

Business Checking Account

Yi Chu
Posted

When you open a business checking account, you have to transfer a certain amount of money to the business account to avoid monthly fee. Let's say $500. This comes from your personal account, not from business operations. How do you do the accounting (in the financial statement and cash flow) for this type of fund from tax perspective? 

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