When you have a business entity, especially multiple business entities, banking can become complex. There are many reasons why you might need to move your money, but there are strict regulations, as well as tax implications that will dictate how this should be done.
In this video, the team at Morris Invest are discussing how to use the money in your LLCs’ bank accounts. We’ll share what we’ve learned, the mistakes we’ve made, and more!
You’ll learn about distributions and owner pay within the Profit First System. We’ll share more about our personal banking structure for rental property investing, and how we use our different accounts. If you’ve ever wondered about using the money in your LLCs’ bank accounts, this video is for you!
Show notes page for this podcast episode: https://goo.gl/pN4znD
EP010: How to Set Up Profit First for Real Estate Investing – Interview with Mike Michalowicz: https://goo.gl/o7k47r
EP040: How to Implement Profit First for Real Estate Investing: https://goo.gl/Vm2oYG
BOOK A CALL WITH OUR TEAM TODAY AT MORRIS INVEST: https://goo.gl/EbDRWj
VIDEOS ABOUT GETTING STARTED IN REAL ESTATE
VIDEOS ABOUT REAL ESTATE NEWS
SUBSCRIBE AND JOIN OUR AWESOME COMMUNITY:
https://www.youtube.com/c/MorrisInvest
SUBSCRIBE TO THE iTUNES PODCAST:
iTunes: https://goo.gl/tSfSM8
FOLLOW ME ON SOCIAL MEDIA:
Twitter: http://www.twitter.com/claytonmorris
Facebook: https://www.facebook.com/MorrisInvest
Instagram: https://www.instagram.com/claytonmorris
DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.