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Updated over 2 years ago on .

User Stats

40
Posts
16
Votes
Spencer Herrick
  • Pittsburgh, PA
16
Votes |
40
Posts

Using Venmo if you have an LLC

Spencer Herrick
  • Pittsburgh, PA
Posted

I purchased a property that already has a tennant. He will pay me rent for the first time on March 1st. He has previously been paying rent via Venmo to the past owner. That being said, the past owner owned the property personally. I bought the property under my LLC . The Venmo business account has a fee that I'd like to avoid. Would I be piercing the corporate veil if I accepted rent through my personal VENMO account and then transferred it to my LLC Business back account?