Corporation: Board of Directors, Stockholers.
Can a member of the Board of Directors pay for his children's private school out of corporate funds - where would you post these transactions. Can this be considered Officer's Compensation or would it be an advance and then paid back by that person out of a bonus at year end.

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Originally Posted by Pagesus

Corporation: Board of Directors, Stockholers.
Can a member of the Board of Directors pay for his childrens private school out of corporate funds - where would you post these transactions. Can this be considered Officer's Compensation or would it be an advance and then paid back by that person out of a bonus at year end.

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Either way but you had better have a Board resolution for that. It is either salary or a loan as you say