Sale proceeds in personal name

[Havan Surat]

Hi, 

I am doing a flip with a single member LLC and if the sale proceeds is being directed towards my personal name in my personal bank account, then this will trigger as W-2 income?

[Greg Scott]

Whether proceeds are sent to an account for your single member LLC or to an account in your personal name, should make no difference for your income taxes.

However, selling a property owned by the LLC and having the money come directly to you violates the integrity of your LLC. In a lawsuit, any good lawyer could probably get your LLC thrown out.