California
Hi, I just set up an LLC in CA for my small consulting business, primarily to protect my personal assets. I am the only employee. Do I need to setup a seperate bank account for the LLC and deposit payments my clients make to me into that LLC? If so, can I use that account directly to pay my personal mortgage, day to day personal expenses, etc? Or do I have to start paying my self a salary from that account? Otherwise, it seems like it could be considered 'funneling' money to myself from the business.
Thanks
Hi, I just set up an LLC in CA for my small consulting business, primarily to protect my personal assets. I am the only employee. Do I need to setup a seperate bank account for the LLC and deposit payments my clients make to me into that LLC? If so, can I use that account directly to pay my personal mortgage, day to day personal expenses, etc? Or do I have to start paying my self a salary from that account? Otherwise, it seems like it could be considered 'funneling' money to myself from the business.
Thanks