The value of the business assets and resources that you use personally would be considered as personal draws from the business. As much as possible, you want to create a separation between the two entities to minimize the IRS disallowing writeoffs due to poor documentation. Document everything for back up with specifics. I would visit with your personal tax accountant for specific details to protect yourself.
Pam Newman is a Certified Management Accountant, author and Certified QuickBooks ProAdvisor for Financial and Point-of-Sale software. She is also president of RPPC, Inc., which provides customized business development services.