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My personal address isn't my business address. They are different. Mixing the two, while seemingly innocuous, actually can mean opening myself up to liability i
by JoshuaRowe 3y ago
My personal address isn't my business address. They are different. Mixing the two, while seemingly innocuous, actually can mean opening myself up to liability issues or a good argument that the biz that I operate isn't actually different from me the person. This isn't going to matter in 99% of things, but if you are ever sued, can be used as a reasoning to actually be able to retrieve damages from you the person versus just from the LLC. It's one of the reasons to try to have a strong separation early on in the biz, if you can. The IRS also doesn't like the mixing funds and such with bank accounts. It's the same reasoning, just different domains.
- cj 3y agoI get that (and agree separating biz and personal as much as possible is 100% best practice) But there are tons of legitimate businesses operated out of residential addresses (therapists, psychiatrists, chiropractors, etc). It’s not abnormal to use a home address for business purposes. I’d recommend checking with your lawyer to verify, but I don’t think the address on your stripe (or even bank) account would legally make a difference