I changed my CPA this year and I got a different advice so thought of double checking here.
I have LLC with S Corp tax treatment. I use 25% of utilities only (Water, Electricity, Secuirty etc) and .xx cents(about 55 I recall) mileage for car for business purpose.
Earlier CPAs just put these expenses in calculations but never asked me to take the payment from my company to me.
But new CPA suggested I should write a check from my company to me every month for these expenses.
So which CPA was/ is wrong or I am not understanding anything?
Appreciate your input.
I have LLC with S Corp tax treatment. I use 25% of utilities only (Water, Electricity, Secuirty etc) and .xx cents(about 55 I recall) mileage for car for business purpose.
Earlier CPAs just put these expenses in calculations but never asked me to take the payment from my company to me.
But new CPA suggested I should write a check from my company to me every month for these expenses.
So which CPA was/ is wrong or I am not understanding anything?
Appreciate your input.
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