I am using a couple of services for my business which I am going to pay with a personal credit card. When I sign up for the account, does it matter if my LLC name is on the invoice? What I am trying to avoid is any commingling issues, and also want to make sure there is no connection between my LLC and me personally. Should I just sign up for this with only my personal name? I will be paying with a personal credit card, then reimbursing myself, and logging it in an expense report. Will having the LLC name on an invoice/receipt that is paid for with a personal credit card cause a problem? I want to do everything possible to keep my LLC “separate” from me personally.
you should be fine doing the reimbursement as you described.
at some point, try to get credit in the LLC’s name so that the company can pay for these expenses directly.
until then, though, you’re on the right track.
I understand about the reimbursement part being ok, but is it ok to have my LLC name on any invoices/receipts that are paid with a personal credit card? Thanks in advance
yes.
Is it ok also if the entity is a S-corp? I was told that I should set up a loan agreement between the S-corp and myself (the shareholder) and the S-corp needs to pay interest.
I had some start up cost I paid using my personal credit card. I kept the receipts and they were all business expenses, but it may take a year or two for the corp to reimburse me fully. Does this (how soon the corp reimburse the shareholder) make it necessary to set up a loan agreement?
submit an expense report. the corp claims the expense immediately, holds the payment as “accounts payable”, and pays when it can.
entity type doesn’t matter. ALL business transactions should be handled arms length, irrespective of entity type.