LLC vs S-Corp & Entity Choice
“I accidentally used my personal bank account for my LLC expenses, will the IRS pierce the corporate veil and disallow my deductions?”
Using a personal bank account for LLC expenses can raise recordkeeping and entity-separation questions, but the tax result often depends on how the LLC is treated, how the payments were documented, and whether the business records still clearly support the deductions. The phrase “pierce the corporate veil” is usually more of a legal liability concept than a routine deduction issue, so the IRS focus is often on substantiation and whether the expenses were truly business related. The ownership structure, commingling of funds, and the quality of bookkeeping typically shape how this is evaluated. Walking the details through with a CPA is the fastest way to know what truly applies here.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I formed a single-member LLC but forgot to get an EIN, can I just use my Social Security number on my Schedule C without issues?”
“I am transitioning my W-2 income into a consulting business, does electing S-Corp status actually lower my self-employment tax?”
“My solo business is making about the same as my old salary, should I switch from a sole proprietorship to an S-Corp?”
“I have a profitable side hustle on top of my day job, is it worth the administrative cost to form an LLC just for that income?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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