QUESTION
Can a LLC. lend money to it's owner to buy land?
Asked on Sep 21st, 2012 on Business Law - Colorado
More details to this question:
I am the owner of an LLC. I want to have my company lend me, personally, money to buy a piece of property, repaying it with intrest...can I do this and is this a better choise tax wise than just taking money from personal savings?
1 ANSWER
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Absolutely. If it is a single-member LLC, then the LLC is an ignored entity for tax purposes and it should make no difference from a tax standpoint whether you use your "own" savings or the LLC's savings. Document the transaction properly.
Answered on Sep 21st, 2012 at 11:24 AM