Keeping Personal Finances Separate from Your Business
(Entrepreneur) — Unfortunately, many businesses hit bumps along the way–and some just flat-out fail. So it’s critical that business owners protect their personal assets in case their own businesses don’t have storybook endings. Make sure you have these pieces in place to keep your individual assets separate from your business dealings. Organize. Establish the business as a corporation or limited liability companyrather than operate as a partnership or sole proprietorship, says Asher Rubinstein, a New York City asset protection attorney. “However, don’t assume setting up a separate entity automatically protects you,” he says.
SEE ALSO
- Celebrity Hairstylist Dee Michelle Talks Hair Health & Her Invisible K-Tip Method
- Pastor Keion & Lady Shaunie Henderson’s Cry Out Con 2025 Delivers Soul, Spirit And Strength
- Protected: The Sound Of Movement: Ledisi Reflects On The Power Of Protest Music And Self-Love In ‘The Crown’
- Gym Etiquette 101: 10 Rules Every Respectful Member Should Follow
- Diddy’s Sex-Trafficking Trial Kicks Off: Defense Says ‘Baby Oil’ Isn’t A ‘Federal Crime’ As Hotel Security Takes the Stand