? for Tom...Separate accounts

[frugalmama4]

OK, last one of the day Tom....I hope

I have open a DBA account and plan to use it for all things daycare related and saving for down payment on an building someday.

I have an joint account with my hubby which all house hold related expenses are paid from (mortgage/truck/utilities etc)

1). Should I write myself a check from the business account to the personal for funds needed to cover house bills?

2). Also, I tithe into church from all related daycare income received; should I write a check off the business account directly to my church? Are would I write it to my personal account?

Thanks so much....have a great day!

BTW...You ROCK!

[TomCopeland]

checking account

OK, last one of the day Tom....I hope

I have open a DBA account and plan to use it for all things daycare related and saving for down payment on an building someday.

I have an joint account with my hubby which all house hold related expenses are paid from (mortgage/truck/utilities etc)

1). Should I write myself a check from the business account to the personal for funds needed to cover house bills?

2). Also, I tithe into church from all related daycare income received; should I write a check off the business account directly to my church? Are would I write it to my personal account?

Thanks so much....have a great day!

BTW...You ROCK!

Yes, write checks from your business account anytime you need money for personal purposes. This is called a "draw". It doesn't matter what checking account you use to write checks to the church. In the end, the IRS will look at both business and personal accounts, so don't worry which account you write any check out of.