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Updated over 4 years ago,
Proper way to do distributions
Hey guys,
what are the proper way to do distributions?
Lets say I have 5 rentals, the money comes to my property management company, then property management company does a distribution to me...
1) Should I do it via check? Or can it be a bank transfer from property management company to my personal bank account?
2) Should I write on the check something like: distribution for property 123 East 321 West, or something like that?
If its ok to do through bank account should I make a note that its a distribution?
Or what is the proper way to do all these things in order not to pierce a corporate veil?
Thank you
what are the proper way to do distributions?
Lets say I have 5 rentals, the money comes to my property management company, then property management company does a distribution to me...
1) Should I do it via check? Or can it be a bank transfer from property management company to my personal bank account?
2) Should I write on the check something like: distribution for property 123 East 321 West, or something like that?
If its ok to do through bank account should I make a note that its a distribution?
Or what is the proper way to do all these things in order not to pierce a corporate veil?
Thank you