FYI: Commingling funds

Biz owner to biz owner - I can’t *not* talk to you about the dangers of commingling your funds!

FYI: Commingling funds – mixing business and personal finances – can compromise your LLC's liability protection, putting you at risk of personal liability for business debts.

What You Should Be Doing:

1) Use Separate Accounts: Always use dedicated bank accounts for LLC transactions.

2) Document Clearly: Keep records of all LLC-related financial activities.

3) Pay Yourself Properly: If you need personal funds, follow proper withdrawal procedures.

You know I wouldn’t drop this on you without throwing out a helping hand.

If you need help with bookkeeping to ensure your LLC's finances remain in tip-top shape, we're excited to share that we have officially partnered with @benchaccounting.

Bench's expertise will help you keep your business and personal finances separate while maintaining your LLC's protection. We use them + love them!

Disclaimer: This information is for educational purposes only and is not intended to be legal advice. No attorney-client relationship has been formed.