Posted by Sean Cowdrey (CA) on January 24, 2000 at 20:13:31:
If the corp. has a resolution that says you will be reimbursed for business items, that’s all you need. You’ll submit the receipts, and the corp. will cut a corp. check payable to you personally. If it’s a large amount, it would be wise to pass a separate specific resolution for the large expenditure (e.g., a vehicle, computer equipment, etc.).
Do I need to “sell” items I bought personally to my corp? - Posted by Tom Nagle PA
Posted by Tom Nagle PA on January 24, 2000 at 16:35:44:
Hi everyone-
I was wondering what to do with some things I have bought for my business with a personal credit card . At the time, I did not have my corp’s card with me, so I used a personal credit card. Do I need to “sell” them to my corp?
One of the resolutions for my corp is to have the corp reimburse employees (me) for all expenses related to the corp. I just don’t know the means to do that legally.
This is the first year that I have had my corp, and I am in the process of seeking out my first accountant.
Thanks,
Tom Nagle
PS I look forward to meeting everyone in Atlanta