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    1 Reply Latest reply on Mar 30, 2009 11:48 AM by LUCKIEST

    How to handle start-up costs?

    CodeMaster200 Newbie
      Hi;

      Let's say i have $50K to start a new business and I'm about to pay the legal fess and other start-up costs.
      Since (technically) the business doesn't exist yet I believe I'll have to pay for these expenses with my personal check.
      After the LLC is formed, instead of $50K i'll have to deposit $49K on it's bank account because i already spent $1K.

      So, how do i handle it?
      I cannot write a company's check to pay myself because the money i used was the company's money.
      But I also can't ask for a receipt on the company's name because at that point, the company didn't exist yet.