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Firstly, I am skeptical that the author uses the word 'thru' so much. Secondly, if I were to take all the money personally, and then say, buy something useful
by sellardour 14y ago
Firstly, I am skeptical that the author uses the word 'thru' so much.
Secondly, if I were to take all the money personally, and then say, buy something useful for myself that my business could really use too, instead of retaining money on paper, does that not work?
- csense 14y agoIf you do this, there's a good chance you're throwing away the main benefit of having a corporation! Specifically, "intermingling of assets of the corporation and of the shareholder" [1] is a reason that can be used in court by creditor(s) of your business to hold you personally liable for its debts. [1] http://en.wikipedia.org/wiki/Piercing_the_corporate_veil#United_States http://en.wikipedia.org/wiki/Piercing_the_corporate_veil#Uni...