When you are the owner and director of a company, you have unlimited access to its funds and have the right to withdraw money from the LLC whenever you want. But an equally important question: how can this operation be reflected in accounting entries so as not to cause objections from the tax authorities, which may be fraught with penalties.
Instructions
Step 1
You have no right to withdraw money from LLC accounts just like that - any operation with finances must be justified. You can justify the withdrawal of money from the company's account as obtaining a loan, issuing a report and paying dividends to the founders. In the first two cases, it will be easier to get money, but such an excuse as a loan initially involves the return of the amount issued after some time. Leaving this money in your use, you will have to pay personal income tax.
Step 2
Consider a loan option. It can be obtained by any founder, even one who is not on the staff of the enterprise. There are no restrictions either on the amount of the issued amount, or on the terms for which it is provided. Sign the loan agreement and transfer the money to the account or give it out in cash through the cashier. If you are not only a founder, but also a director of an enterprise, then the law does not prohibit signing an agreement from two parties - both as a director-lender and as a founder-borrower. Receiving funds at a minimum or zero percentage is considered income, so the company will have to deduct personal income tax from you. It will not have to be paid only if the loan received was spent on the purchase of a new home.
Step 3
If you are not going to return the loan, after the expiration of the limitation period (3 years), the accounting department must calculate personal income tax from material benefits, which is 35%. This loan will be considered your income and, as an individual, you will have to pay another 13% from it, which the accounting department of your company will have to withhold from any of your other income.
Step 4
You can withdraw money from the LLC by registering the amount withdrawn from the account as funds issued “on account”. They can only be obtained by an employee of the enterprise within the limits prescribed in the accounting policy of the company. The documents governing this policy should also set a deadline for returning or reporting these funds. When the funds received "on record" were not returned, the money is considered the income of the person who received them, and he must pay 13% of personal income tax of this amount, and the company must charge them with insurance premiums. In this case, there is no need to pay a tax of 35%, since there is no material benefit upon receipt of the amount "on record".
Step 5
You can also receive money as dividends - the profit of the enterprise, distributed among the founders. You can get them only when the company breaks even. They cannot be paid if the net assets of the enterprise are less than the amount of the authorized and reserve capital. If your business is profitable, hold a general meeting of founders and record the decision on the payment of dividends. The frequency with which they can be paid must be spelled out in the charter of the enterprise. From the amount of dividends, the personal income tax rate is only 9%.
