7 Ways to Build and Improve Your Personal Credit Score

In his book The Tax & Legal Playbook, CPA and attorney Mark J. Kohler targets the leading tax and legal questions facing small-business owners, and delivers clear-cut truths, thought-provoking advice, and underutilized solutions to save you time, money, and heartache. In this edited excerpt, the author offers quick tips you can use to start improving your personal credit score, which has a direct impact on whether you can obtain corporate credit. Corporate credit is the ability of a company to obtain its own loans under its own credit score. Thus, a company (such as an S corp or LLC) can apply for a line of credit and, without the owner’s personal guarantee, use the money to expand its business. The owner of the company isn't personally liable for the credit line, and their personal credit score has nothing to do with the company’s ability to obtain credit. However, in some instances, having a good personal credit score can expedite the process of obtaining corporate credit. Continue..