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View Full Version : Is it a good idea to use your business money to pay for a rental home or take it out


pattykoenig
Sep 23, 2014, 12:09 PM
Is it a good idea to use your business account to pay for a rental property or take it out of your personal account

tickle
Sep 23, 2014, 12:12 PM
Not a good idea to use your business acct to pay for personal issues. It messes up reporting in state taxes and personal. Best to transfer money to your personal account as a pay check.

AtlantaTaxExpert
Sep 23, 2014, 01:12 PM
If the business is one that owns and operates rental properties, then buying a rental property is fine using business funds.

Otherwise, you need to convert the business funds to personal funds, and THEN purchase the rental property.