Piercing the Corporate Veil: Real World Examples of Intermingling Personal and Business Assets

More on piercing the corporate veil: some real world examples of intermingling personal and business assets, or in other words, using a business bank account as a personal piggy bank. If a company is sued and determined to be insolvent, this can pose an issue to the shareholders or members and give the person suing the business an avenue to pursue the shareholders personally for the company's liabilities, i.e. pierce the corporate veil.

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Reminder: This is NOT legal advice. And Anton is NOT an accountant, so do not take this as financial advice. Every situation is different. You should consult with a lawyer about your specific issue.