My start-up is now out of money, but we must pay our taxes and bank fees. Should I pay using personal check or credit card and then save receipts for later company reimbursement when income comes in? Or should I make a deposit into our company’s bank account, save the receipt for late reimbursement and pay the expenses out of the account?
Does it mater which way this is done?
Hi Melissa, great question. I think it’s much cleaner if you write a check from your personal account, deposit it into your business bank account and then take care of your bank fees and taxes directly out of the business account. Definitely save your receipts so that you can support your reimbursement claim later on.
All the Best-
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