legal to use company property for personal use?
<p>I own an LLC (limited liability company) in Arizona, United States. More accurately, I am the sole member. I have no creditors, no investors, no board, no on else to worry about. This is federally taxed as a disregarded entity, and is not a non-profit.</p>

<p>Is it legal to spend company money, and use items spent with it it for personal use? For example, if I purchase a printer with company money (i.e. company bank/card), and intend to use it for company purpose(s), and I print something for my personal college, or something of that nature, is that legal? Or, buying 1,000ft of CAT6 (network cable), and cutting myself a cable for personal use? What about if I purchase an item with a company purpose, but later find it doesn't fulfill the purpose and use it for personal use, or transfer the property to myself or to a friend? Can I purchase an item, and the business excuse is "making an employee/person happy"? Am I "piercing the corporate veil"? Are there any tax considerations I have to consider? </p>

<p>It seems awkward, as there is a conflict-of-interest between myself and my company, as I both make decisions for it, and there is no check-and-balance.</p>

<p>You and the company are separate entities. Let’s say your company has a printer. If that printer as a used printer is worth $500 then the company can’t give it to you for free or sell it for less than the value, or it will be tax evasion. The company’s profits are lower than they should be, and your wallet contains more money than it should. </p>

<p>The only legal ways are the company paying you a salary, or the company paying you dividends, with all tax implications. </p>

property limited-liability-company corporate-tax-laws common-property