If I use my HELOC fund to buy a property, which of the following two options should I go with from tax or business accounting perspective?
1) make the payment directly from my HELOC account
2) transfer the money from HELOC to business checking account, and then make the payment from my business checking account.
not an accountant, but from a tax perspective I see no benefit of one from the other, interest would not be deductible.
if you are using a LLC, then money should go to the LLC but if you are buying it in your personal name and transferring then reality is there is no separation of LLC and person so you have fake asset protection.
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