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-   -   Is it a good idea to use your business money to pay for a rental home or take it out (https://www.askmehelpdesk.com/showthread.php?t=801827)

  • Sep 23, 2014, 12:09 PM
    pattykoenig
    Is it a good idea to use your business money to pay for a rental home or take it out
    Is it a good idea to use your business account to pay for a rental property or take it out of your personal account
  • Sep 23, 2014, 12:12 PM
    tickle
    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.
  • Sep 23, 2014, 01:12 PM
    AtlantaTaxExpert
    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.

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