Help with Transferwise and my business

[Skeid]

Hi,

I have Wise business and Wise personal accounts but soon I am going to‌ close my company, do you know if
I can move freely all the money ($20k)‍ from the business account into the personal one? Or maybe half of that and other⁠ half I buy crypto?

Because I read many reviews where they used to freeze accounts⁤ and I don't wanna end up like that.

thanks everyone

 

[diatessaron]

Yes, you can move the money freely. Business > Personal.

 

[bamboozlethemall]

Ya move the money freely and start paying high income tax on it( I am⁢ guessing you are from a high tax country and that's why you want to know︀ this answer in the first place. Rather move it to crypto and then cash out)-DM︁ me for options.

 

[RealDude]

Is the transaction from business to crypto⁤ not reported/punished?

 

[Skeid]

Wise is not crs right now so yeah..

 

[JackAlabama]

If its according to operation agreements and all the shareholders are ok with this practice,⁢ then there are no objections.

 

[Houdini]

Yes you can do that, they will not care about that transaction.

 

[bamboozlethemall]

How exactly it can be reported if I am also invoicing his business normally-he will show‌ them as business expenses.