Recent content by kkily17

  1. K

    Using Business Account for Personal Use

    I didn't realize my first post was cut off. The last part was supposed to say that he remodeled his kitchen and labeled all expenses as one of his rental properties to use as a tax write off. That's tax fraud, correct?
  2. K

    Using Business Account for Personal Use

    My employer owns an LLC. He flips real estate. He has about 7 years of back taxes and because of this cannot open a personal account. He uses the business account for all of his expenses. I know that this commingling is frowned upon, but not illegal. However, he accepts private loans for...
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