Appreciation post: My accountant said my LLC might not be enough protection

I was reviewing my small business setup with my accountant in Spokane, and she pointed out that my single-member LLC, which I formed for $125 online, might not fully shield my personal assets if a customer sued for more than my policy covers. She mentioned something about 'piercing the corporate veil' if I don't keep things completely separate, which I admit I've been sloppy about. For those who run a solo service business, how do you make sure your LLC actually protects you?

3 comments

3 Comments

kellys789d ago

Oh man, my lawyer gave me the same scare last year. I got a separate business bank account immediately and stopped paying for Netflix with it, lol. I also started signing all my client emails and contracts with the LLC name, not my personal one. Getting an EIN from the IRS was free and helped keep my social security number off invoices. It feels like a hassle but mixing stuff is basically asking for trouble.

ericj459d ago

Glad you learned that lesson before it got ugly.

lee_reed9d ago

Yeah, @kellys78, that Netflix part is so real.