How Do I Contribute Money to My LLC? - All Up In Yo' Business
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- Опубликовано: 14 окт 2024
- 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:
1. As a member contribution.
2. As a loan.
Whether to call a contribution in a single-member LLC a member contribution or a loan is really a personal choice. But if you do decide to call it a loan, it is very very important that you actually treat it as a loan from you to your business. This means drafting and abiding by a promissory note setting for the terms of the loan, the interest rate, repayment terms, etc. You would have to sign that promissory note twice: personally as the lender, and in your capacity as the business owner and the borrower. You also cannot put higher priority on your own loan if the business has other debts. In a nutshell, if you want to make a loan to your single-member LLC, the most important thing is to remember that you personally are loaning money to a separate business entity. It is a real loan to a business, and it has to be treated as such.
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I know this is old but you are very helpful and quite easy to understand and pleasant to watch. Graphics are phenomenal, my mind is still blown LOL
I LOVE LOVE LOVE your teaching style and your personality! The graphics are just very clear to understand. I hope you aren't breaking the bank creating them! haha In all honestly, I appreciate your videos in so many levels. My fiancee and I are starting our own business and your videos are giving us plenty of information that will help us ask specific questions to our attorney. I know that not everyone can afford to pay legal counsel or a CPA when starting a business. However, your videos give a clear understanding and help us conduct business with informed decisions. Again, thank you!
Love that you're teaching me like I'm 5 years old lol It's actually pretty helpful
Hahaha 😂
Yessss. We need it broke down
One of my teacher once told me, “if you’re confused about something go on the internet typed what you are confused about and type for kids”
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Hope you learned at least at that level !!!
I swear, I could watch and listen to Aiden all day. She is so smart and thorough.
so knowledgeable
You are a blessing. Thank you for the videos. God Bless!
great videos!
She totally is! 💖
You make learning about boring stuff really fun! lol thank you
Thank you for making me less ignorant about all this. And the graphics were a visual bliss,
I love ❤️ her 😍 she is sooooo helpful one of the few people on RUclips that actually gives you useful practical information. 🔥🔥🔥🔥🔥💯
I just stumbled across your videos today. ..you are literally amazing!!! thank you so much for sharing...you are very. ..informative. ..funny and witty...I will watch them all over again tomorrow lol...also I love how your hair grew in your more recent videos...stay beautiful (inside and out) thanks again...
Aww...🙂Ditto!
Okay...I almost spit out my water with the graphic LMBO...that was absolutely awesome! I just found your channel...love your content and delivery! Thank you for sharing your experience and expertise. New subee :~)
Adorable!!! And exactly what I was looking for, to a T. Thanks Aiden!
May God bless you and your business 1000 fold. You really helping a lot people
also the high-end graphics were worth every penny!
THANK you! Glad they're being appreciated. :-)
graphics were great! haha
Hope you wrote off the expenses for the Graphics Artist. 😉😉
Me and my roomate just started a 2 member llc and have been making loans to it in order to have spendable capital. This was a great vid :) thanks
Clutch. I've been looking for "personally buying things for the business" answer fo hours. Thank you
Love her advice one of the few people that actually gives useful and practical information. 🙏🏾💪🏾✅
When I tell you I love those expensive graphics!! Those graphics won me over to subscribe! We must have the same graphic designer lol.
Thank you so much babe. This answers my question even though I live in Canada. Cheers.
Thank you for the informative video!!!! Love the “expensive” graphics🤣😂🤣
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How incredibly helpful your video is. I enjoyed it and learned from it. I transferred $100 from my personal BOA Checking to my business LLC Checking.
Thank you for exposing this so effectively! Super helpful !
I have searched the interwebs and there is barely any content on this subject. Yet it is important for self funded businesses. Thank you. May I request you make an updated video.
This woman is sumn else...minds blown!!!! Graphics!!!! Too funny very nice video
Thank you for your graphic designers department for this fantastic depiction, and your succinct explanation. This helped a lot! Cheers! 🤠
I’m so thankful for all your videos
Thanks Aiden, I keep coming back to your videos.
hello Aiden , been watching your videos for a couple days and just love the great info. question is , if I make member contribution to my LLC are there any guidelines I need to follow , or just deposit and record into the business records ? VERY VERY new to the LLC world... much thanks for any info and a great day to you and success always to your LLC.
Thank you! Love your high tech graphics!
Thanks Aiden, your videos are great and really helpful! I love the way you break the information down very simply. BTW, love those graphics! Can I hire that designer!!?
such great stuff!
Very informative. You never disappoint! Thank you for sharing.
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I came just for the graphics :) Thanks for sharing this info.
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I mean, the art though, I’m impressed! 🤣❤️
Salute to the graphics department. Amazing job
Brains beauty & humorous personality🙏🏽 I instantly started crushing!.... o Yes I forgot; thank you for the information!~
I laughed so hard when you showed the picture I had no idea that’s what it was gonna be 😭🤣🤣 great video
Cheers to the “real” graphics team! 👍
If the startup contribution to an LLC is recorded as a loan and the business was subjected to a lawsuit does the lender/owner have priority over the plaintiff when it comes to reimbursement of said loan?
Thank you for sharing this. Was sound advice.
[Subscribed] Five years old and this video is still relevant!
The graphics alone are so phenomenal! The information is informative! You should really consider becoming a RUclips Partner if you are not already!
Thank you @180LawCoLLC this was all I need this morning!
Now 6 years old and info in this video is still relevant! (...and those graphics are ADORABLE lol)
2023 Still all up in yo business.... Thanks much!!!
I Love your Cartoon presentation. Thank you, for your honest. I really need hear this.
Love the humor and advice. Thanks for the video.
Great video!!! Very Informative. Thank You!
hahaha.. love the graph! I was expecting a lot more.. but it blew me off the water haha
I'm new to your channel and the content is well received. Thank you.
Thanks for the video! Love the graphics. Can I do this retroactively? I've bought a lot of materials in the past for the LLC that I'm opening. Could I get the receipts and Count then as materials to build the prototype product that I'm building for my LLC ?
Awesome video and very helpful!! I especially though the visual aid was perfect by the way, lol
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Love your sense of humor
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Ill graphics. I see you are using Leonardo AI for them. On point!!!
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agreed!
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Hi...just found your channel. I've subscribed and am looking forward to browsing through your videos (love this one BTW). My LLC was formed in Texas and I'm wondering if Colorado law (where the LLC and this subject matter is concerned) is similar or the same here.
Thanks Much...eddie
great channel!
Hey Aiden, I appreciate the video, I was wondering do I need to write a check every time I want to contribute money to my llc or can I just transfer to directly since my llc and personal account have the same bank ?
Thanks for the good clear video and the top notch graphics :)
😂 ok you’re a great teacher wtf. This was so awesome and made it easy to understand
Thank you for the video and information. If we do the loan is important to get it notarized?
Glad I found this channel
You are awesome Aiden! I am a single member LLC trucking company.. I recently loned myself $55000 by way of writing the company 4 different checks and wrote on each one "loan to business" in the memo section... My question is, is there any tax benefits that can be taken advantage of somehow with this? Or is it simply I pay my self back and that's that?
Do you recommend creating a new LLC for each company I own or create one LLC and DBAs for each one?
Hello, I love your videos! You answer most of my questions. Thank you! Here is a scenario I came across as a real estate agent. Guy wants to create an LLC with their family members and every month each family member contributes to the LLC until they have enough money to purchase a small property. My question is would the monthly contributions be taxed? Would they be able to purchase a home with a year long LLC? Thank you in advanced :)
+Arthur Grigoryan member contributions aren't considered income and would not be taxed.
@@allupinyobiz Hi, I love your videos. Can the member contribute crypto fund to the single member LLC to avoid paying capital gain tax on the crypto? Once the crypto is under LLC, it can be cashed out as a company entity without needing to pay tax, right? Thank you in advance.
You are hilarious! Thanks for the info and for being entertaining.
So if I transfer $1000 for start up purposes into my LLC bank account as a member contribution, how can I get it back? Can I withdraw (tranfser) it from the LLC once the company makes some profit or would it have to be a distribution and be taxed by state and federal as personal income? Can I write off that member contribution on my personal taxes? Your videos are great, thank you.
Helpful, but I have a next level question lol. How do I contribute say a price winning, like a car? I win a car, it’s worth x amount, yes I will use it as more than 50% business purposes. Instead of declaring current personal car to the llc, can i some how get a deduction through an llc by having won a car? Thank you 🙏🏽
Great advice. Very clear.
Hot girl you nailed it. That was the answer I've been looking for the whole day watching 100s of videos
So when you open a business account at my bank you have to open it with $50. This is also a member contribution?
Yes, that $50 can be your member contribution.
Thank you for this question! And answer lol
@@allupinyobiz How is this paid back to the owner?
Great video congratulations for your channel!
My question is if I can start selling a few computers or cables to a customer who has his business in Argentina, and get paid by a transfer money from his business bank account to my business bank account. It should be ok or I need an export license ? I open my LLC few months ago
These videos are really great, Thanks Aiden.
Actually laughed out loud when you introduced the graphic lol
Thank you. This was so helpful.
Thanks for this video. My question is this...if i treat it as a member contribution, do i give a cheque, bank transfer or cash from my personal account to the LLC account and juat record it in my books as members contribution?
Very helpful but how to get your investment back without taxing it?
Someone told me if you own a sole proprietorship if you put a business advert sticker on your car then everytime you drive I the mileage is deductable on taxes.
Does this sound right?
Say you are dissolving your business and you want to divide up the member contributions currently in the LLC's account back to the members who contributed, how do you do this? Is this considered payment, worthy of a payroll, or can you just take the money back out and redistribute it?
Sounds like a question one should direct to a CPA or tax attorney.
i subbed because of your expensive graphics hahah that made me laugh i love it! also i just filed for llc and im going to open bank account but i have some start up costs that i need to deposit around 2k to the business from ME personally so how do i get it back ? what do i write on check ? and is it a write off when i give the money back to myself?
I answered your question in my newest video! Check it out at ruclips.net/video/SrGkYbAD25I/видео.html
@@allupinyobiz thank you so much 😊
Thank you for the tips!
Super awesomeness thanks for this video. It clarified a lot for me
Thank you, very well explained!
Thank you for the great graphics
Great information Thank You
What about taxes? Do you get double taxed? or can you write it off on either example?
Legend has it, that graphic is actually an ancient prophetic text from the lost city of Atlantis
My business is hurting right now, so I definitely need to contribute from my personal. So if I choose to right it as a member contribution. Do I just need to tell this to my tax person? Also when I do it with bank write in the note statement ( member contribution) right?
Helpful it was! Thank you!
Thanks Aiden for the video. I'm trying to move funds from my saving account to my business account, and its a huge amount of money. Does member contribution has a limited amount or any amount falls under member contribution?
Thank you for this information!! 🤗
Hello Aiden, Does 'member contribution' to the business have to be recorded in the LLC documents book, and if so. under what heading. By the way great videos.
Ronald Outlaw Your state's laws may say something different, but generally speaking they CAN, but don't have to be, recorded in the LLC's internal documents. Typically they are incorporated into the Operating Agreement showing the contributions of each member. Thanks for the great question!
All Up In Yo' Business by The Law Office of Aiden H. Kramer, LLC Thanks for getting back to me. Your video series contains great information. Keep up the good work.
Thank you so much for your help
Supar Video
when you are starting your business and don't have a business account yet, (it's in the process) how do you show transferring money from your personal account to pay for business expenses?
Did you ever find the answer to this question?
Love your videos. If I transfer $9000 from my annuity to my single member LLC this would be considered member contribution.
super informative! Thank you for the help!