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Old 10th September 2015, 09:51 PM   #1

Join Date: Sep 2015
Posts: 1
Default Sole Member Paying For Company Trip

Hello, I own an LLC which I am the sole Employee. I am a creative person and looking to reshape a lot of what my company does. To do this, I want to getaway for about a month and work in another state.

I have an office that I go to daily and I am looking to move to a creative city for 4 weeks. I realize I cannot expense the trip because its not a necessity to the company, however will it be alright if the company pays for the trip as long as I don't record it as a deduction? In other words, can I use my company's bank account to pay for the trip since I will be working 90% of the time or do I need to use my personal bank account?

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Old 11th September 2015, 02:23 PM   #2
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You'll definitely want to check with an accountant to be sure, but I believe if you're not claiming the expense as a business deduction to the IRS, there shouldn't be a problem with paying for the trip out of your business account in terms of the business's taxes. Important: if the business pays for the trip, you may have to show the value of the trip as income to yourself on your personal tax return, though, which is why you'll want to check with a tax accountant before you write any checks.


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