using personal money for the business..

[Dalen]

No offense, I hope. You just took "the long way around the pond".

[pps.llc]

No offense taken, still laughing about it......

Ron

[Tomas8]

Originally Posted by Jim-o

Is it ok to use money from your personal account/credit card to operate the business? I imagine so as long as you have the receipt and it is clearly a business expense. However, i'm pretty sure its wrong to use business funds to buy your personal groceries, etc.

I guess my question is, is it wrong to do either, or is it just wrong to try and use it as a business expense.

I am a single member LLc so I'm not sure how i need to document everything other than simply keeping the receipts in case I need to prove the expenses are real. I guess its smart to just use the company debit card for all business related purchases.

[dwa]

What I can add is from experience. If you have a business and there is a problem, as Ron mentions, you can rely on lawyers to do what is right. What Ron was illuding to is, if there two lawyers smell money in the deal they are going to litigate. So, the ultimate protection is to have nothing. This is kind of oxmoronic. Or, leverage levage all your assets such that no one could squeeze another dime out of it. Or, as it was put to me, "there isn't enough money int to make it worth my time", said the lawyer.
Fred