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All Forum Posts by: Jessica Howell

Jessica Howell has started 2 posts and replied 6 times.

Tax, SDIRAs & Cost Segregation

Post: Funding LLC's, deposits and draws

Jessica HowellPosted
  • Posts 6
  • Votes 3

Very helpful! Thank you

0 Votes
Tax, SDIRAs & Cost Segregation

Post: Funding LLC's, deposits and draws

Jessica HowellPosted
  • Posts 6
  • Votes 3

Hi Basit,

The first one is the structure:
Jessica Howell is a 100% member of ABC LLC
and
Jessica Howell is a 100% member of DEF LLC?

I just may have a time where savings from one LLC need to be moved to the other LLC. How can I properly do this?

0 Votes
Tax, SDIRAs & Cost Segregation

Post: Funding LLC's, deposits and draws

Jessica HowellPosted
  • Posts 6
  • Votes 3

Thank you Sean,

What if I'm the only member of the LLC? Does that change anything?

0 Votes
Tax, SDIRAs & Cost Segregation

Post: Funding LLC's, deposits and draws

Jessica HowellPosted
  • Posts 6
  • Votes 3

Hi Chris,

Long story, but an umbrella policy is not an option for me. I would prefer not to keep all my eggs in one basket. If I need to transfer funds from one LLC to another would I withdraw to my personal and deposit to my other LLC?

1 Vote
Tax, SDIRAs & Cost Segregation

Post: Funding LLC's, deposits and draws

Jessica HowellPosted
  • Posts 6
  • Votes 3

Hi everyone,

I will have 2 LLC's shortly. How can I go about transferring emergency funds between the LLC's as needed? What about depositing personal money into an LLC or drawing money from an LLC to put in a personal account?

2 Votes
Starting Out

Post: Sole member LLC formation

Jessica HowellPosted
  • Posts 6
  • Votes 3

Can someone tell me what should be listed as Capital Contributions and Initial Contributions for an Operating Agreement?

I am planning to include the estimated property value and the funds that will be transferred into the business bank accounts. Is there anything else I'm missing. Since I'm the sole member of the LLC is there anything I need to be concerned about or consequences if I make a mistake?

0 Votes