We started an LLC. Can we pay ourselves with money from a business account that is being funded with a personal line of credit?
Should I put money into a business account to pay back what we spend? I am using a personal credit line to get the business started. My wife paid for a course that we took together, and I have been using a personal credit card. Can we pay ourselves back with money from a business account that is being funded with a personal line of credit?
Asked by Scherrylain
Asked by Jose
Answered by Rob Jupille
Financial Adviser in Santa Monica, CA
An S Corp has both advantages and disadvantages compared to being a sole proprieto...