I find it very strange that the bank account/accounting situation has not been sorted out before now. Her YT status took off 18 months ago.
Either she has changed accountants or they are not up to the task (unless they want to get maximum fees).
It's only common sense that the B&B business, association and private cash flows are kept separate. It's going to cost her a bomb to sort out her spaghetti accounts. And it is equally questionable that the other directors did not request a much earlier sorting out of the situation. They are just as responsible as her for the absence of professional management.
There is another reason she may not want to separate the personal funds from company funds.
At least in Canada, as a business owner, you essentially double pay in taxes. Meaning, the company as a separate entity, has to file taxes every year and if it has made a profit, has to pay taxes on it.
and then you pay yourself from the business, and personally have to file income taxes every year and pay personal taxes on top of corporate taxes.
A lot of business owners choose to not withdraw funds as income from their business, and instead get paid in dividends, which is a lot more tax efficient, but has its own complications.
By having everything in one place, steff gets to write off as much as the personal expenses as she wants for business (i.e meals, transit, even some purchases) and then pays herself the minimum amount where she barely has to pay any personal taxes.
French tattlers, could you please let us know if it is the same in France, or if you have a different system?