Updated about 8 years ago on . Most recent reply
Funding my LLC, need advice.
I know I should probably consult a CPA on this but I'm sure there are a few that can share their experiences. I have a newly formed LLC that I will be using to hold my rental properties. Since I want to keep my business and personal bank accounts separate, I opened business accounts for the LLC. Of course I have to initially fund the LLC with personal funds and plan on depositing a decent some of money ($20-30k) from a personal account into the business account so that all business transactions go through the business accounts. Are there any precautions I should take before doing this? Are there tax implications? My wife and I are 50-50 partners in the LLC if that changes anything. Thanks for your input!