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May 22, 2024
Question

multiple personal accounts/credit cards used for one business

  • May 22, 2024
  • 1 reply
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I used many different bank accounts to fund the startup costs for my business like creating an LLC with one personal bank account, paying for sales training with another bank account  and have done this for various expenses. I do not yet have a business bank account that i regularly use. Is it possible and how do i go about writing off expenses for tax purposes across multiple personal accounts for business related expenses? 

1 reply

lockerman
May 22, 2024

By developing an accountable plan for expenses not paid for by the business, the company can reimburse those expenses to you.  By keeping a folder and categorizing those expenses they become deductible through the accountable plan