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Updated over 4 years ago,

User Stats

1,250
Posts
214
Votes
Mary Jay
  • Glendale, AZ
214
Votes |
1,250
Posts

What is the proper way to

Mary Jay
  • Glendale, AZ
Posted

Can you guys help me out with this?

I know that the rents deposited into my LLC bank account can not be just transferred into my personal bank account (Because if I do it then it pierces the corporate veil)

1) But what is the proper way to get that rent money out of the LLC bank account and into my personal bank account?

My LLC writes a check to me as a person?

2) If my mom owns 5% of the LLC, does it mean I have to give her 5% of money as well? In order for me not piercing the corporate veil?

Thank you!

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