Can llc pay a partner for gas used in rehab of house for flipping
My partner and I purchased a house for flipping. He's a Realestate broker and used his truck to transport materials for the repair of the house.Can the llc pay him for gas used?
He can't request a flat fee for reimbursement or it would become income to him. You need to determine if you want to do mileage or receipts and then reimburse based on that. But it needs to be accounted for.
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What kind of receipts does he need to give me. Gas receipts? How do I distinguish between gas for the LLC and gas for his Realestate business and gas for personal?
