I sometimes receive checks in my name on behalf of my business. I just wanted to know if this still gets reported under business taxes or should I file it under my personal taxes?
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I sometimes receive checks in my name on behalf of my business. I just wanted to know if this still gets reported under business taxes or should I file it under my personal taxes?
Even though the check is made out to you personally, the intent of the payment is to pay your BUSINESS, so it goes on the business tax return.
If the bank will not allow you to deposit those checks to your business account, deposit the money to your PERSONAL account at the same bank, then transfer the funds to the business account.
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