Skip to main content
No. of Recommendations: 0
I think the problem here with piercing the veil argument is:
1. Money is gathered through the use of a Personal PayPal account, which then goes into a personal bank account----this is comingling of accounts.

2. Money goes from a personal account into a business account-----this is not comingled money because it should be treated as a contribution to capital in the business account, or as a loan to the business.

In the case of #1, the corp veil is easily pierced. In #2, it would not be pierced if the incoming monies are termed either contribution to capital or a loan to the business.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.