How to Pay Myself

[Ralph Miller]

Hello BP Community!  

I recently started renting out 2 of the 3 rooms in my house to tenants.  I also created a business account for myself where I put their security deposits and monthly rent.  I calculate out the utilities and whatnot then I split it three ways and then my tenants write me one big check for rent+utilities per month.  I then pay off the utilities and internet using my personal credit card and then I write myself a check from my business account equal to 2/3 of the utilities and internet. I'm wondering if that is an acceptable practice or is that a conflict of interest by using my personal credit card to pay for the whole amount of the utilities...should I change my practice?  

Thanks for your future advice!  I love this forum!

[Steven Hamilton II]

You should consider getting yourself a business credit card so you can earn points and miles for your business expenses. PAY IT OFF EVERY MONTH!