Hello,
so we have an S corp LLC that we use for rental properties. Please I need clarifications in the following questions:
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how can I account for personal funds and credit card charges (cost for appliances on rentals properties) for prior years in 2022 tax filing and booking? We are paying the personal credit cards with our w2 income because the business doesn’t have cashflow to cover all its expenses yet
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can the business still pay us even though it’s not cashflowing yet?
-if so, can we pay ourselves with our personal credit card (for example taking a balance transfer/direct deposit) and make it a loan to the llc and have the llc pay the interest and the credit card balance over time?