A dormant or delinquent LLC can kill a bank loan, property financing, or multi-state registration. When you apply for credit, the lender discovers the problem, triggering IRS audits, back filings, reinstatement fees, and months of delays that tank the deal.
You may not find out your LLC is a problem until the exact moment you need it most. You go to the bank for a line of credit for your business. You're trying to close on a rental property and need a loan. You need a certificate of good standing because you're registering in another state. All of a sudden you're getting audited by the IRS or the state tax commission, and suddenly you find out your LLC has been delinquent for 18 months. Now, instead of moving forward with your transaction or audit, getting out of hot water, you've got back filings, reinstatement fees, delays, state notices, A mess you did not see coming.
The secret to managing your family's future #financialfreedom #estateplanning #shorts
Moving Property to an LLC: What They Don't Tell You #realestate #investing #tips
