If you are starting a an LLC, you are probably going to give money to your LLC and use some of your own personal money to fund the initial startup costs. This is a continuation of the topic I discuss previously, How To Pay Yourself In A Single Member LLC. Giving money to your LLC for legal fees, to purchase supplies or equipment, marketing, etc. is a perfectly normal. In fact, it’s reasonable and the acceptable thing to do.
Along with How Do I Pay Myself in a Single-Member LLC, the other question I get asked quite often is “how do I give money to my LLC?” Particularly in the instance of a single-member LLC. People are not sure if such contributions should be considered loans, or how they are supposed to record and treat any contributions in general.
If you are starting a single-member LLC, or a multi-member LLC, there are two ways that you can give money to your LLC to use your own personal assets to capitalize your business. Those two ways are as a member contribution and as a loan.
In short, this episode of All Up In Yo’ Business is all about contributing money to your LLC. Check out the full video to get more details on how to do so through these two ways. Contact us today if you need help with your LLC. And be sure to subscribe to our YouTube channel for more All Up In Yo’ Business!
Have a multi-member LLC? Check Out: How To Pay Myself In A Multi-Member LLC.
