Utility bill under an individual name or an LLC

Utility bill under an individual name or an LLC

Member since 2022 · 67 posts · 20 votes

When you start utilities on the properties just purchased for STR purpose under an individual name but will be transferred to an LLC soon, is that better to wait the LLC to be done first then start the services, or turn them on as soon as possible to reduce the downtime to get ready and change the ownership to an LLC for the utility companies?

How about accounting side? Can the utility bills under an individual name be claimed as a business expense?

Is this legal okay to do?

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    10mo

    I put it in name of the owner. Also if you are using a LLC you should buy the property in the LLC and not transfer it at a later date.

    7e investments53 Reviews
  • Member since 2022 · 67 posts · 20 votes
    10mo

    Thank you

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