2

I have a LLC (let's call it XYZ, LLC) and I am the sole owner and I am going to use the money of the company to buy some assets. However, XYZ doesn't have enough capital to make the purchase.

My wife has some spare cash in her personal account and she said I can use her money for now. Can I deposit her money into my business without paying interest?

Thank you.

1 Answer 1

3

Yes you can. By US law, (and barring any prenuptial agreements specifying otherwise), your spouse's money is also your money, so you can deposit your money into the business account which should just increase your company basis. How you work out paying your wife back is between you and her, but does not need to involve the company if you don't want it to.

2
  • This is exact answer I am looking for. Thank you so much!
    – lilixiaocc
    Mar 9, 2018 at 19:47
  • 2
    Just be careful that you actually run your LLC as a separate entity and properly keep its funds separated from personal funds. Otherwise, the LLC may not provide you protection from liability. Mar 10, 2018 at 0:00

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .