[Sam]

Investing question!
I’m being cheap!

But I want to save money..

so bare with me. It’s expensive to order business checks to invest…

(I can’t transfer the money to the firm) so I was thinking of transferring the money from my business account to my personal account and write a check from my personal account for the investment (checks are FREE this way) is that ok investment wise or will that look odd to the IRS etc?

Just want to make sure I’m doing this all correctly.

This is for a Roth Indiv. 401k

[Desirée]

Can you just buy a bank check? Maybe do a wire transfer or set up an ACH debit with the firm.

[Brad]

what type of firm doesn’t allow you to transfer money electronically?? Sounds super, super, super sketchy.

If you’re investing and aren’t with Fidelity, Schwab or Vanguard, there had better be a really compelling reason!

The IRS would never seen anything like this, so that’s completely irrelevant in this case (any case really).

[Robert]

I think my wife just ordered check paper and prints her own checks….

that is cheaper

[Stacey]

You are correct. You are being cheap.
Business checks are like $60.

[Tim]

stop being cheap. it cost you more in your time to try and fix this problem than to pay for the checks.

You’re stepping over dollar to pick up a dime.

get the checks and move on.

you should have this issue off your desk in 30 minutes.

[Frank]

No, its not expensive to do that. Order the business checks from a discount check service if the bank charges too much.

And that is NOT an investing question.

Do not confuse frugality behaviors with investing.

[Natalie]

I can do a bill pay from my business account where I enter everything on the website and then the credit union prints/mails a check for me basically.

Is that an option?

[Janice]

You will be creating more headaches and raising more questions than you ever wanted if you were to be audited.

[Damon]

Who owns the investment? If it’s titled in the business name then don’t do it.

If it’s titled in your personal name then it’s fine.

[Dan]

I spend like $11 every 12-18 months on business checks. This is being cheap, not frugal!

[Josh]

Never a good idea to pierce the corporate veil and mix business with personal accounts.

[Author]

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