[IGDA_indies] Hey there
Brian Hook
indies@igda.org
Fri, 9 May 2003 11:43:22 -0700
>I'm happy to stand corrected but If you don't want to comingle=
funds
>between your personal accounts and your business account then=
you
>would establish a commercial bank account.
No, what I meant was why not establish two separate _personal_
accounts. For example, you can have multiple checking accounts=
under
your name.
>One thing I was advised about is that the more you comingle=
such
>transactions the more likely a corporate veil can be pierced not=
to
>mention you increase the likelyhood of IRS audits.
Ah, okay. I was looking at this from the point of view of a sole=
proprietorship.
Something else to keep in mind is that incorporation does not=
give
you complete indemnification. Since you would be an officer of=
the
company, there would still be an opportunity for personal=
culpability
if a worst case scenario presented itself.
Brian