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Moderator
Join Date: Jun 2001
Location: Geyserville, CA
Posts: 6,921
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Is it a single member LLC and you did not select the corporate tax election?
First, you are commingling personal and "corporate" assets. Danger Will Robinson. The purpose of a corporate entity is to shield your personal assets from liability. If you are ever to be sued, the first thing the plaintiff looks for is just this - the transfer of personal assets into and out of the corporation (without documentation).
Seems to me (and you should wait until a tax guy chimes in) you could draft a simple promissory note from the LLC to you and date it to when you made the transfer. Charge and collect market interest rates to make it a genuine loan.
All this being said, if it is a single member LLC and with the funds in and out of the company within the fiscal year (right?), it won't show up on your books at all other than as offsetting entries, so it's really no big deal.
Does that make sense?
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Don Plumley
M235i
memories: 87 911, 96 993, 13 Cayenne
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