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I have an LLC, but have people make the checks out to my name. Is that correct?

I have an LLC, but have people make the checks out to my name. Is that correct?

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I have an LLC, but have people make the checks out to my name. Is that correct?

Question – I am a solo owner LLC, but have people make the checks out to the business in my name. Is that correct?


 

Our Answer – 

Since you’re a single member LLC filing a Schedule C, It doesn’t really matter for tax purposes as long as you report all the income. It is potentially a problem (usually remote, but still a concern in the short-term) for your liability protection if the business were to be sued. 

When you can, keep the LLC and your personal affairs completely separate, including opening a bank account for the LLC and getting business checks in the business’s name.  Read more how to sign a check for the LLC.  Also, ask your customers to change the name of the business and send checks in the correct name (this may require submitting a new W-9 with them).

I have an LLC, but have people make the checks out to my name. Is that correct?

I have an LLC, but have people make the checks out to my name. Is that correct?

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