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MrLandlord Q & A
LLC (by Tarheel T [NC]) Oct 8, 2018 2:15 PM
       LLC (by Barb [MO]) Oct 8, 2018 5:45 PM
       LLC (by Landlord ofthe Flies [TX]) Oct 9, 2018 10:55 AM
       LLC (by John2 [MI]) Oct 9, 2018 4:30 PM

LLC (by Tarheel T [NC]) Posted on: Oct 8, 2018 2:15 PM

So for those with LLCs, how do you withdraw funds from your LLC for personal use without piercing the veil?

I have heard the term taking a distribution.

LLC (by Barb [MO]) Posted on: Oct 8, 2018 5:45 PM

At the end of the year, the LLC that owns my rentals distributes proceeds to the partners. That distribution is listed on the K1.

According to my lawyer, I could also write a check monthly for proceeds, or to be paid as the managing member for services performed

LLC (by Landlord ofthe Flies [TX]) Posted on: Oct 9, 2018 10:55 AM

Just make sure you don't do anything that looks like it could be a salary. If it looks like a salary, it had better be taxed like a salary.

LLC (by John2 [MI]) Posted on: Oct 9, 2018 4:30 PM

Itís called a distribution.... we do what Barb describes above :)

Subject: RE: LLC
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