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Using Business Checking for Personal Items

Is it legal to use a business checking account for personal items if you're an LLC?

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Technically the LLC and the individual are two separate entities, but if you are a sole member LLC, the IRS treats the LLC as a sole proprietorship. However, it would probably be incorrect (stopping short of using the word "illegal") for you to treat those personal expenses as business expenses when you report your LLC income to the IRS at tax time.

Published on BankingQuestions.com 11/16/07