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Can I withdraw money from my company account?

RacLRacL subscriber Posts: 1
edited July 2009 in Accounting and Financial Management
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.
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    nevadasculnevadascul subscriber Posts: 3 Member
    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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