[TriLUG] Re: [GoLugTech] legal question

[Lance A. Brown]

Mack.Joseph at epamail.epa.gov wrote:

> The problem is that you (the person) set up the LLC (the business) and
> you (the person) think that you (the person) are the business. You
> aren't - you and the business are separate legal entities. So when you,
> working in your own LLC looking at all your receipts, say "how much did
> I spend on computers/ink paper clips this year?" and you come up with
> some number, you're confused. You should have said "how much did the
> business spend on computers this year?", because you (personally)
> probably didn't buy any computers at all. The computers in your basement
> (or wherever) belong to the LLC, they are assets of the business (they
> aren't yours). If you (personally) don't want the computers anymore, the
> LLC business will have to sell them and the money will go into the
> equity (ie cash) of the business.


Ahhhh... Pronoun troubles!

Sorry... Couldn't resist.

--[Lance]

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