Der Brewmeister:  technicaly no, depends on the other owner. I use a seperate account to run my business so I can keep track of spending and purchase for the company come tax time. IF you keep good records then it shouldnt matter.
2008-01-07 08:06:39

Mr Mugg:  No, as long as they aren't claimed as business expenses on your tax return. But more importantly, your business partners should be okay with it, and how the money is to be accounted for should be discussed. Even though it's possible (and not illegal), I agree with Bridey. It's better and safer to keep the business finances and personal finances as separate as possible. It'll only save you headache in the future.
2008-01-07 08:07:16

Bridey:  It's not illegal, but your partner wouldn't appreciate it, I'm sure. You could get wrapped up in some legal issues on that front. It is best NOT to mix business finances with personal finances. Keep them separate. It is truly the only way to have a successful business.
2008-01-07 08:07:59

Greg:  my dad has a business and we use out business checking for everything. mostly cuz its our only income. been doing it for 20 yrs now no probs
2008-01-07 08:11:05

dreamer:  Yes and No, just always right your self a check ,,, I R S wants paper trails... if not can be taken as tax evasion or corporate fraud..
2008-01-07 08:12:31

Richard F:  Not that I know of but for tax purpose it raises bookeeping issue. If you are trying to right off personal stuff through the business account then it would be illegal if caught. The more important part is does your co owners want you using it that way? Simple way is keep personal separate from business.... your accountant will thank you.
2008-01-07 08:13:01