Business Checking Accounts, Credit Card’s & Logistics
Hello, BP Community!
Okay- Here’s what I’ve got...
Let’s say, for arguments sake, you’ve got 5 LLCs all holding SFHs.
AL LLC 1
AL LLC 2
IN LLC 3
IN LLC 4
IN LLC 5
Now let's say you've got a WY LLC Holding Company, parent/principal/owner of the 5 LLCs.
ALL LLCs are Single Member.
How do you set up the Checking Accounts for Mortgage Payments, Rent ACH deposits? How do you set up the business credit cards for Maintenance Expenses or deductible expenses (travel, business dinners...)
Do you need 6 Checking Accounts and 6 Business Credit Cards? These seems a bit overwhelming if you were to keep adding LLCs.
Since the LLCs are, I believe, considered Disregarded Entities, can I use the WY LLC Holding Company to deposit and withdraw and charge all expenses?
If this is not the case and I need 6 credit cards, How do I simplify this?
Thank You!