Llc Financial Management Tips

Summary

To maintain liability protection for your LLC in Tennessee, keep separate financial accounts for personal and business funds, document all business transactions, use the LLC name for contracts and checks, and file annual reports with the Tennessee Secretary of State. Payments should be made to Bridgemaker LLC and deposited into its account to ensure liability protection.

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Can my songwriting compensation be written to llandell but depisited into Bridgemaker LLC ?
Hey! Generally, to maintain the liability protection, it's best that payments are made directly to Bridgemaker LLC. Mixing personal and business funds can compromise the liability protection provided by the LLC.
Is there a specific reason you're considering having payments made to llandell instead of Bridgemaker LLC?
llandell is my Artist name.
Got it! Since llandell is your artist name, you can use it for branding and marketing purposes. However, for financial transactions and liability protection, payments should be made to Bridgemaker LLC and deposited into its account.
Would you like to know more about maintaining liability protection for your LLC in Tennessee?
Yes
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Maintaining liability protection for your LLC in Tennessee involves:
- Keeping separate financial accounts for personal and business funds.
- Clearly documenting all business transactions.
- Using the LLC name for all business contracts and checks.
- Filing annual reports with the Tennessee Secretary of State.
If you have any other questions or need more information, feel free to ask!