Plan for starting out.......

[Claude Hodge]

Hey everyone! I would like to hear what you all think of some of my basic plans for getting my REI business off the ground. I am going to form a LLC this February. I want to next open a business checking account in the name of my company at a local bank here in Colorado. I want to make recurring deposits to this account while I am overseas for 1 year. My question is, am I allowed to do this? Is it legal to simply infuse cash into a business this way? Does anyone know of some good books on this type of thing? I would think that I can do this, since most businesses need some amount of capital to get started anyway. It shouldn't matter that it is my own money, right?

Also, I want to start learning about necessary tax information, and how finances work. For example, when can I enjoy the profits of my company? Do I have to set up a timeframe, such as quarterly, that I can withdraw from my business account, and use my profits?

By the way, the LLC will be for holding my rental properties which will all be out of state.

I hope I included enough info for you all to help me with some of this at least!

Thanks for reading!