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Forums » Accounting & Financial Management

Can I withdraw money from my company account?

    • 355 posts
    July 11, 2009 8:19 AM EDT

    I worked for a corporation that owned numerous small companies.  They incorporated all the companies, except one, into the corporation.  The wife tried to pull money out of the corporate accounts to pay personal debts.  She could not withdraw the money because of the way the corporation was set up.  So, she withdrew the money from the one company that was not part of the corporation.  There were far less controls on how the money could be spent.

    nevadascul7/11/2009 1:59 PM

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    The older we get, the more excuses we make for not chasing after our dreams. But truth is, goals are attainable at any age.

    • 1 posts
    July 10, 2009 8:59 AM EDT
    Hi,
    I am an owner of a small business. I put some money in my corporate account last year when I started the business. And now I need to use the money for personal use. My question is if I can withdraw money from the corporate account? Or I have to get money by paying myself?
    Thanks a lot.