Originally Posted by
vagabond
To keep it even cleaner and more separate, the LLC pays for things like insurance premiums, jet fuel, maintenance, etc. This means establishing a checking account.
Originally Posted by
Duksrule
MAKE very sure that the plane money and your money are separate. Whether it is a gift from you to the LLC or a loan.
Thank you both for the replies.
This is what primarily worries me. Plane needs gas. I pay for it with credit card attached to airplane (and the LLC). Obviously the credit card needs to be paid off, so I pay it off from my personal account. Would that not leave a trail that, potentially, someone could use to tie my/our finances to the airplane.
Thank you guys in particular for the LLC discussions with the house and plane. I'm having to dig deep to remember anything from that aviation law class I took in college.