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Attorney answers (3)
Reputation Level 13
Answered almost 3 years ago.
Business Attorney in Atlanta, GA.
It depends. You should consult with an attorney to discuss your goals and objectives, as well as how the business is set up, to determine what approach is best.
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Reputation Level 11
Answered almost 3 years ago.
Intellectual Property Law Attorney in Cincinnati, OH.
No. It's not illegal. But it will support an allegation later on by a creditor of the company that you and the business are one. And that therefore you should be personally responsible for the company's debts. It defeats the purpose of the company.
You should get a paycheck like everyone else, deposit it into your personal bank account, and write personal checks to cover personal debts. Don't mix corporate with personal. It's like mixing wine and beer. Nothing but a mess later on. Disclaimer. I am not your lawyer. The information provided is merely for educational use. Contact a lawyer in your state. 1 person marked this answer as good
Reputation Level 20
Answered over 2 years ago.
Lawsuit / Dispute Attorney in Chicago, IL.
The business form you have will drive the answer.
You might find my Legal Guide "Small Business Start" helpful. http://www.avvo.com/legal-guides/ugc/small-busi... I have used this kind of advice for numerous successful clients and I truly hope some of these ideas are helpful to you as well. Good luck to you. Good luck to your business.God bless. I am in Chicago and do not practice in your state. NOTE: This answer is made available by the out-of-state lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in your state in the subject practice discipline and with whom you have an atttorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question. 1 person marked this answer as good
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