All Forum Posts by: Jeffrey Wolff

I never got a clear-cut answer on this, nor have I found any case law on it, but I am sure it is out there.

For the startup costs of a single-member RE holding LLC that were incurred before the corporation existed, but used to start the company, can those costs be put on the books as "unreimbursed business expenses" and then reimbursed once the company is operational? If not, what is the best way to recoup these costs?

My single family residential rental property is held in a land trust, whose beneficial interest is assigned to my single-member disregarded LLC. I have opened up a business bank account where the rental payments are deposited. The mortgage for this property is held in my personal name (conventional 30 yr loan), but I have the monthly payments deducted from my business account. Since the mortgage is in my personal name, but the mortgage payments are made out of my business account, could this be construed as commingling liabilities and potentially be interpreted as piercing the corporate veil in case of litigation?