Updated over 7 years ago on . Most recent reply
LLC? Check. Business account is next. Now how do I...
I set up an LLC and now I'm about to open a business account with the LLC and EIN#. I'm doing this to try and separate this business from personal everything if possible and now I'm wondering how I get the money I've saved from my personal savings into the business account without there being any connection. I'm planning on transfering it from one bank to a Credit Union. How would I do this? Thanks Yall!
Most Popular Reply
It's ok to transfer money from your personal account to your LLC. I refer to it as an owner contribution. At the beginning, the LLC may not have any means for revenue until it gets established. Just keep track of it. When the KLC starts to make money the owner contributions can be paid back. You just want to keep track where money comes and goes.
Good Luck.