Your guidance is valuable and appreciated. Yet I confess that I enjoy the comedy wrought by landscapers and contractors almost as much, regardless of the country you're in.
Jim, grateful as always for all the time you invest in helping us! Could you please do a video on the proper way to pay/receive funds back & forth between your LLCs in a holding-subsidiaries structure (each are multi-member LLCs)? How does a parent LLC properly give its subs funds? How does a disregarded sub properly funnel money up to it's parent LLC? How are these cash movements officially recorded for taxes and financial statements for both sides?
Do I HAVE to have a separate “Owner’s pay” or “Owner’s distributions” bank account to pay myself out of? Since I have the paper trail via checks and carbon copies to prove those transactions in the account are Owner Withdrawals, can’t I just run everything out of my business checking account and not have a separate account? The only members in the LLC are myself and my wife, if that matters. Thanks for all of your advice! You have been incredibly helpful in all of your videos.
