Hi All,
I am new to Stessa.
I have two LLCs within Stessa. I transfer some money from LLC1 (100% owned by me) to LLC2 (50% owned by me). What is the best way to categorize this transaction? If it makes a difference, money was transferred from LLC1 to LLC2 to cover a large remodeling project.
In LLC2’s bank transaction, would this be a transfer → owner’s contribution?
What would LLC1’s transaction category be? just a transfer, no sub category? Does what you pick affect any P&L stuff when it comes to filing taxes at the end of the year?
TIA!