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No. of Recommendations: 8
If your sure you will never be sued and not have enough cash to pay for the suit and and award the other side might have then it doesn't matter what your doing. However, If your company goes bankrupt YOU would will be liable for it's debits if anyone does any sort of digging. The legal term "Piercing the Corporate Veil" means BREAKING the limit on legal liability for the owner of the corporation.

Standford lawschool has a PDF on this which I got in 3 seconds of googling which lists 4 ways to pierce the veil.

By using your personal account to move money into your business account you've now got an opening that WILL make you personally responisble for any debits of your business. Plus that you control the whole deal you've got 2 out of 4. Plus, If you don't keep up corporate formalities or keep money in the corporation you have no protection.

My point is simple, by commingling business and person assets you eliminated one of the biggest advantages to having a coporation. It is easier to fix these problems now rather than latter when or if you get in trouble.
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