Business & farm

It is always optimum to separate business and personal funds and never comingle the two.

 

Regardless, a single-member LLC (without an election to be treated as a corporation) is a disregarded entity for federal income tax purposes. In short, a SMLLC is effectively a sole proprietorship that files a Schedule C.

 

As a result, the fact that you spent the funds on certain expenses out of your personal account is not an issue.

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