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Updated about 5 years ago on . Most recent reply

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Tom Rhyne
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De-coupling LLC/Personal Finances

Tom Rhyne
Posted

When faced with the choice of "no payroll" or "pay out of pocket", I chose the latter, and pierced the veil between personal and LLC finances, and then further pierced it paying back some of those contributions. Now, my company is standing on its own and meeting obligations without my personal assistance.

Is there any real benefit to observing a "no co-mingling/coupling" policy at this point, or is it sort of a "the cork won't go back in the bottle" thing, and I'd best prepare for permanent personal liability for any long-term issues?  Basically, is there any way to reaffirm legal separation in a legal/meaningful sense?

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