Description: Itâ€™s easy for entrepreneurs hatching startups to fudge the line between personal and business expenses. Is that laptop really used for your company, or for your kids? Are you discussing business at lunch, or gossiping with a friend? Beyond the typical admonitions about tax audits, running personal expenses through your business can backfire with employees, investors, partners, and buyers. I spoke to Ben Straughan, an attorney and partner in the emerging-companies practice at Seattle-based Perkins Coie. Edited excerpts of our conversation follow.
Date: Nov 06, 2012
Questions for Discussions:
- What does this report say about the keeping business and personal expenses separate?
- What else did you learn from this report about the proper financial management of a start-up?