Tuesday, April 27, 2010
No Mix or Mingle for an LLC
Purchasing The Confident Indie: Five Easy Steps has been a great investment and I appreciate how much it is teaching me about running my LLC.
I have an opportunity to bring in additional income, supporting new moms, by working part time as a W4 employee with a company.
My question is should I have my employer direct deposit my earnings into my personal checking account or in the account for my LLC?
Thank you so much for your reply.
Pleased to know that Five Easy Steps has helped you.
I gather that you are an LLC structured as a sole proprietorship. I assume you formed an LLC for liability protection not just for the panache of having "LLC" as part of your business name.
That being so, you must keep your LLC records separate from any income or expenses not related to the LLC.
Your paycheck should be deposited into your own account.
Here are more posts on LLCs -- business entity -- LLC -- if you want more info.