Sole Props: Commingling or not

[Susana Castro]

The examiner have been critical on reporting commingling of funds/possible tax evasion when it comes to business activity in the personal accounts however, how is everyone dealing with sole proprietorships? What is the customer is a sole prop and has a business and personal account and there is business activity in both, cash into both, would you count this as commingling? It’s confusing because in sole Props the entity and business is the same legal entity.

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