Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 12 years ago on . Most recent reply presented by

User Stats

2,498
Posts
282
Votes
Bienes Raices
  • Orlando, FL
282
Votes |
2,498
Posts

Paying personal credit card bill with LLC check

Bienes Raices
  • Orlando, FL
Posted

I'm getting my tenant credit reports, etc. from a company called Quick Check. Quick Check does not have technical capability to have more than one user credit cards on file so that the user can charge different reports to different cards. This was fine while I only had properties in my own name but now I also have one owned by an LLC. But the credit card I have on file is my personal one.

I was initially told to pay for the credit reports with the personal card and then submit an expense report to the LLC and get reimbursed by the LLC. However, someone else has suggested just paying the personal credit card bill (once it arrives in the mail) with an LLC check. I don't use that particular credit card for anything but rental expenses.

So would this be a safer way to do it? Could I skip the expense reports if I do it this way?

Most Popular Reply

User Stats

21,918
Posts
12,880
Votes
Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
12,880
Votes |
21,918
Posts
Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Replied

Paying personal bills, with company funds constitutes comingeling funds, it will be the basis for you to lose your liability protection offered by the LLC if you are sued.

Who does your accoumting? Several ways to clear personally paid company expenses, but don't write a company check to a personal credit card company! Easiest is to pay it with your personal funds and then a company check to you for reimbursement.

Loading replies...