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Category: Tax
Satisfied Customers: 5883
Experience:  CPA with tax experience.
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Hello JK, I have a sole proprietorship and my question is,

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Hello JK, I have a sole proprietorship and my question is, if I register a DBA and business checking account, would that business checking account be subject to collection activity from collections/judgment related to a personal consumer issue?

Thank you.
Hello Customer,

Thanks for your question.

Yes, as a sole proprietor you have personal liability for all debts, personal and business, which means you are personally responsible for the debts and obligations that you incur. You may wish to consider becoming an LLC which would protect the business from this type of liability.

Best regards,

Edited by JK_CPA on 12/1/2010 at 5:53 PM EST
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