title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Sunday, April 17, 2005
 

Q:

Subject: Personally paid corp expense article
 
Would the same technique described in option 2 be kosher for a corporate member of an LLC? The corporation has its own business credit lines and it would like to extend their benefit to said LLC.

I assume then the books would look like this:

Corp:
debit Loans to LLC, credit Corporate Mastercard

LLC:
debit expense, credit Loans from Members

 

A:

You can do it that way or through the capital contributions account.

Kerry Kerstetter

 



Powered by Blogger