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    Mbell1960's Avatar
    Mbell1960 Posts: 17, Reputation: 1
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    #1

    Jun 7, 2008, 05:46 AM
    Can 1099 income be garnished?
    The court has garnished all the funds in my personal bank account, even the funds in my childrend's account with my name on the account.

    My question, I receive all my income on a 1099 basis which is mostly paid to my corporation, can these funds be garnished also?

    Can my corporation's bank account be garnished?

    Thank you for your help.
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #2

    Jun 7, 2008, 06:29 AM
    Welcome to AMHD. The corporation is a separate, legal entity from you; that is probably why the company was established in the first place. You must follow your state's laws pertaining to the corporate entity, such as annual meetings, filing tax returns, keeping the business's business separate from your own. Corporate funds can only be garnished if the corporation is a defendant and a judgment was entered against it.
    Check this: Piercing The Corporate Veil
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