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Updated over 4 years ago, 06/13/2020

User Stats

266
Posts
311
Votes
Guy Yoes
  • Rental Property Investor
  • Springfield, Mo
311
Votes |
266
Posts

Co-mingling funds: do's and dont's

Guy Yoes
  • Rental Property Investor
  • Springfield, Mo
Posted

I set up a parent LLC (not a series) for my properties (each have a LLC). I have a separate acct for each door. Each account has a checking and savings. the savings is for deposit escrow. If I move my rental income to the parent LLC is that considering co-mingling?

My parent LLC is set up as a management company and I am using it as the owner of the rental properties. I an thinking that using the parent to pay the bills, taxes, insurance, etc will give me another level of distance in case of a lawsuit.

I am listed as manager of all the LLC's and will pay myself from funds transferred to the parent. This will allow me to keep only a small amount of funds in the child LLC's .

Am I piercing the veil with this process? Is there a better way to do this?

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