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Level 1
posted Jan 26, 2022 11:21:37 AM

Estimated Quarterly Tax Payments

For a single member LLC, does it matter if I pay estimated quarterly taxes from the business account or my personal account?  Would paying from my personal account break the LLC "veil"?

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1 Best answer
Expert Alumni
Jan 26, 2022 11:40:06 AM

No, it doesn't matter.  A Single-Member LLC is considered a disregarded entity which means that, for tax purposes, you and your LLC are one in the same so they can be paid from either account. 

 

It also does not affect your LLC protection (the "veil") for much the same reason. The estimated payments are actually a personal tax liability since an LLC doesn't owe any tax of its own.

 

 

1 Replies
Expert Alumni
Jan 26, 2022 11:40:06 AM

No, it doesn't matter.  A Single-Member LLC is considered a disregarded entity which means that, for tax purposes, you and your LLC are one in the same so they can be paid from either account. 

 

It also does not affect your LLC protection (the "veil") for much the same reason. The estimated payments are actually a personal tax liability since an LLC doesn't owe any tax of its own.