3 ms·
This is called "piercing the corporate veil" and will not only get you in trouble with the IRS but will also mean if you're ever sued you won't get any of the n
by JamesBarney 9y ago
This is called "piercing the corporate veil" and will not only get you in trouble with the IRS but will also mean if you're ever sued you won't get any of the normal protections to your personal assets that you would expect from doing business as a corporation.
- jjeaff 9y agoProtecting yourself in a single owner corporation or LLC would require extraordinary discipline and bookkeeping. The protections offered by an LLC or corporation to a single owner are generally overstated. In other words, the corporate veil will be pierced either way.
- xapata 9y agoIt's not that bad. I keep a separate credit card, laptop, and office for company use.