Personal Liability of Business Owners in Financial Distress
What is your personal liability if you own a business that is in financial distress? Attorney Andy Lizotte discusses the pitfalls of ignoring the warning signs when a business falters and how owners are personally liable for withholding taxes, pension payments and other obligations. Andy says that businesses must confront their financial problems sooner rather than later because the “corporate veil” does not allow immunity, especially in the area of taxes.
This video is an excerpt from a podcast. Listen to the complete podcast below: