Tax filing question - LLC funding vs. personal

[Brad Nelson]

Hello,

Am closing on a property next week.

My LLC's business bank account outbound wire fee is $78 versus $25 if wired out of my personal account at a separate bank, where it's sitting in a line of credit.

$53 difference is not the end of the world, but it's enough to irritate me. 

For tax filing purposes at the end of the year, does it matter if one pays for a property from one's LLC business bank account, or from one's personal account?

Probably a dumb question I know, but please advise.

.

[Ashish Acharya]

Unless you get audited and there is no adequate documention, IRS might give you trouble. 

The main issue is If you ever get sued for your rentals or by any other creditors, court might take this action as commingling of the personal and LLC's fund and rule that you are "piercing the corporate veil."

LLC is a different entity from owners, so when LLC gets sued, LLC's asset is at state, not owners. But if court sees that you are not keeping owners financials separate from LLC's, owner is not separate from LLC and you will be liable.