Entrepreneurship & Small Business

Business expenses from personal account

  • Last Updated:
  • Nov 5th, 2018 9:53 am
[OP]
Newbie
Aug 30, 2018
4 posts

Business expenses from personal account

Hi, need a suggestion from experienced business owners. I have registered my company this year. I am planning to do some advertisement, for which I need to pay a USA based company and preferably in USD. Now, in order to pay in USD (key point), I have to first transfer money from my canadian business account to my canadian personal account, then from my canadian personal account to the USA personal account. I cannot directly pay from my canadian business account, because the credit card limit is low. I cannot transfer money directly from my canadian business account to the USA personal account, because it is not allowed. I will have proper invoices but the transaction will be from my USA personal account. My question is, will there any issue during tax submission for making expenses in this way?
2 replies
Member
Apr 13, 2005
367 posts
176 upvotes
As long as you have all the paper work, should not been an issue.

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