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Updated over 10 years ago on . Most recent reply

User Stats

335
Posts
52
Votes
Chan K.
  • Lowell, MA
52
Votes |
335
Posts

Boston, Landlord, LLC, Withdraw of Payment

Chan K.
  • Lowell, MA
Posted

Hi BPers,

I bought a property under an LLC that I formed. I setup a business account where I deposit all the income in there. I also use the account to pay for debt service, tax, insurance. misc expeneses ....

I list myself as a manager of the company.

The question I have is that, how do I withdraw or get pay? Ideally, I can just write the business check and make payable to me. Do I need to file any form before withdrawing or the end of the year?

What is the process for those who had gone through this?

Thanks,

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