Questions

Your S Corp is technically another person for legal and tax purposes. All money goes through the Corp first. Then it pays you. So the Corp would send you a check or Zelle deposit (more realistically for modern small business) and now you’re paid. NEVER use your business debit or checks to pay for personal things unless you can tie them to the business. This puts you at risk of liability. A court could “pierce the veil” of your Corp and say, “hey! That fictional legal person is really you, why I ought uh!!!” Now you’re screwed. So don’t do that. In fact, if you want to stay on the safe side, if it can be seen as personal, pay for it with your personal card. I know that wasn’t part of your question but it’s important.


Answered 2 months ago

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