For LLC must payments be made from LLC bank account?

[Trace P.]

Hi! If I set up a LLC to hold my real estate, must all my business expenses be paid via the LLC bank account for annual accounting purposes? For example, my air ticket expenses, food during my business trips, hotel, property maintenance, property management fees, paying for the property, etc.?

Any advice is appreciated, thank you!

[Scott Passman]

Any expenses that are related to business from the LLC need to come out of that account. You need to be careful not to mix personal finances with business finances because then you open up a can of worms legally and with the IRS. I would work with a CPA to help you get things organized and to ask specific questions because they can help clear up what does and does not qualify as a business expense and how to maximize your tax efficiencies.