Avoid Commingling Corporate and Personal Funds


Avoid Commingling Corporate and Personal Funds

Commingling corporate and personal funds demonstrates that no distinction exists between a business owner and his or her corporation. You can protect your business and personal assets by obtaining your corporate and personal accounts separated.

That means that all corporate debts must be paid from corporate accounts. Personal bills should be paid only through personal funds or accounts, without exception.

If you hire employees, they must be paid through corporate accounts via corporate payroll or a payroll service. The appropriate deductions must also be made.

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