Can I deposit checks made out to my LLC into my personal checking account?

[Anonymous]

It's a single member LLC. I'm not worried about the legality, but will my bank let me do this?

[Anonymous]

Is the name of your LLC your actual name? If not, no.

[Anonymous]

That's literally the number one way to lose your LLC status.

[Anonymous]

Anonymous wrote:That's literally the number one way to lose your LLC status.

If OP doesn't care about the veil being pierced, then that doesn't matter. Some people just have LLCs because it sounds better to clients

[Anonymous]

I know nothing about the legality, but do it via mobile deposit all the time…. It makes me nervous each time (like wondering if it will clear) but it always has

[Anonymous]

Anonymous wrote:

Anonymous wrote:That's literally the number one way to lose your LLC status.

If OP doesn't care about the veil being pierced, then that doesn't matter. Some people just have LLCs because it sounds better to clients

Just to clarify— if you set up the LLC because you think it helps insulate your personal assets from liabilities of the business then you should not do this

[Anonymous]

Just sign them over from the llc to you personally.

Literally write in the back

“Pan to the order of [insert name]” and then sign the check with your name and title and the company name.

[Anonymous]

Why don’t you set up mobile deposit to your LLC account?

[Anonymous]

This is OP. I set up the LLC to avoid having my name on FEC forms. The campaign wanted to wire me some money for services and I didn't want to have to set up a new bank account. Unfortunately Citi said there's a chance the would reject the wire so I just set up a new account online, which was fairly easy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:That's literally the number one way to lose your LLC status.

If OP doesn't care about the veil being pierced, then that doesn't matter. Some people just have LLCs because it sounds better to clients

Really?
The only LLC I know by name is my employer because that's how they sign my paychecks.
You can have a corporation ("Inc") without it being an LLC. If I had the choice, Id rather work with a non LLC because they have more assets I can sue for.

[Anonymous]

My Delaware-barred stomach is in knots. WHY

[Anonymous]

Anonymous wrote:It's a single member LLC. I'm not worried about the legality, but will my bank let me do this?

Now this the type of attitude we're seeking ! Go get 'em !!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That's literally the number one way to lose your LLC status.

If OP doesn't care about the veil being pierced, then that doesn't matter. Some people just have LLCs because it sounds better to clients

Really?
The only LLC I know by name is my employer because that's how they sign my paychecks.
You can have a corporation ("Inc") without it being an LLC. If I had the choice, Id rather work with a non LLC because they have more assets I can sue for.

It probably depends on the client. I'd rather have whatever, LLC or Ltd. or Inc. as a wealth manager/accountant/attorney/consultant than Larlo Smith working as just Larlo Smith because the former gives the appearance of being a real business while the later is obviously a sole practitioner

[Anonymous]

Anonymous wrote:My Delaware-barred stomach is in knots. WHY

If you're constantly commingling funds and the LLC is only a pass through entity, the only benefit is appearance. Keeping the LLC separate enough to maintain the veil is more work than some people want to deal with especially if they aren't in an industry prone to litigation risk

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's a single member LLC. I'm not worried about the legality, but will my bank let me do this?

Now this the type of attitude we're seeking ! Go get 'em !!!

This isn't illegal.