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Get your taxes done using TurboTax
Hello Glow22, Thanks for joining the event!
A single member LLC will report income and expense on their personal tax return as self-employment unless an election has been made to be another tax entity. While you may have expenses that have come from a personal account, you can keep your records in a manner that will take those business expenses into account. There are often start-up expenses as you begin a new venture. This is a great resource on start-up expenses for your reference:
https://turbotax.intuit.com/tax-tips/small-business-taxes/startup-business-tax-tips/L7SOyYMzr
While it is always preferable to keep your business and personal expenses separate, having spent money from a personal account does not disallow you from taking these legitimate business expenses. As the article above emphasizes – keep good records!
Best Wishes on your new business!
JanetB211
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