๐ Millionaire Business Tip ๐
To get business credit, avoid making this mistake ๐ When you transfer or move money from your personal account to your business account, itโs important that itโs documented correctly. โ
Instead of letting it show up as business income, make sure you have an LLC Loan Agreement in place. This way, the money is recorded as a loan investment into your business, not income. Why does this matter? - If itโs counted as income, it can mess with your books, inflate your revenue, and create unnecessary tax issues. - When itโs set up as a loan, it shows that youโre investing in your company properly. helping you build credibility and structure for lenders when applying for business credit. ๐ก Millionaires donโt just move moneyโฆ we move strategically. ๐ Drop a โ๐โ in the comments if youโve learned something new today.