Business Financing – Don’t Intermingle Funds

Business Financing – Don’t Intermingle Funds

Business Financing – Don’t Intermingle Funds

A common problem with single-owner and other closely-held corporations is the intermingling of funds. The intermingling of funds can occur when a corporate shareholder uses his or her personal checking account for corporate deposits or payment of corporate expenses. Intermingling funds may not seem like an issue but it can weaken the business’s integrity. One result of this, which may affect these businesses and their owners down the road, is that courts can pierce the corporate veil by stating that the corporation is not separate and distinct from the individual as evidenced by the intermingling of finances. Don’t intermingle funds.

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2023-11-01T13:11:44+00:00February 24th, 2023|Business, Individual|

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