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Piercing The Corporate Veil

• hga 17y ago
  "I said last week that forming a company is the best way to "putting a buffer between you and the business." But as Shawn and others point out in last week's comment thread, you can't just pretend to be a business, you have to be a business." Else you might find yourself in litigation where that buffer disappears and you are personally liable, the term of art being "Piercing The Corporate Veil". Don't let this happen to you. Additional note: something that always pierces the corporate veil is failure to pay payroll taxes. No matter who's fault it is, the IRS will come after you personally with a rusty knife. Don't try to finesse this and make absolutely sure you trust whomever is actually doing it.