Question on handling money from management company

[James Stayton]

Quick question. My bookkeeper ( not really understanding the rental business ) does not want me to put my income from my rental into my IT company. While I understand that it would be best to use its own bank account do I need to create a 2nd business or just use a 2nd income stream? This is NOT for the deposits just what I am sent after the mortgage is paid by the management company.  Thanks, James 

[Simon W.]

You have a Property that is producing income. You want to transfer all the remaining cash after expenses into your IT company. No, you cannot do that.

However, you can transfer the money to yourself (personal account) and then transfer it to the IT company.