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Non-investing private finance points together with insurance coverage, credit score, actual property, taxes, employment and authorized points comparable to trusts and wills.
closing now LLC in 2025 ?
1. Ought to I not pay the subsequent renewal in April 2025?
I made $0 in 2023 and 2024.
2. If I shut down my LLC, what do I’ve do in regards to the solo 401K at Constancy?
Thanks.
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Re: closing now LLC in 2025 ?
1. Does the LLC personal any belongings?
2. It’s worthwhile to amend your plan to checklist your self as sole proprietor because the plan sponsor, or you must terminate the plan and rollover the belongings into one other plan or an IRA.
Re: closing now LLC in 2025 ?
toddthebod wrote: ↑Solar Sep 01, 2024 10:39 am1. Does the LLC personal any belongings?
2. It’s worthwhile to amend your plan to checklist your self as sole proprietor because the plan sponsor, or you must terminate the plan and rollover the belongings into one other plan or an IRA.
No. No belongings. I do software program consulting.
Thanks.
- Posts: 7369
- Joined: Wed Could 18, 2022 12:42 pm
Re: closing now LLC in 2025 ?
Nyc10036 wrote: ↑Solar Sep 01, 2024 11:23 amtoddthebod wrote: ↑Solar Sep 01, 2024 10:39 am1. Does the LLC personal any belongings?
2. It’s worthwhile to amend your plan to checklist your self as sole proprietor because the plan sponsor, or you must terminate the plan and rollover the belongings into one other plan or an IRA.
No. No belongings. I do software program consulting.
Thanks.
Then it ought to be straightforward sufficient to shut, assuming you are not returning to that enterprise anytime quickly.
Re: closing now LLC in 2025 ?
In case you do resolve to shut the enterprise it is normally greatest to affirmatively dissolve it with the Secretary of State by submitting the required type.
In case you depend on administrative dissolution (by not paying the price) then there may be normally a multi-year interval throughout which the enterprise may be reinstated by you or another person, simply by paying the again charges. I do not suppose this kind of enterprise hijacking is especially widespread, however why take the prospect?
Re: closing now LLC in 2025 ?
MP123 wrote: ↑Solar Sep 01, 2024 11:53 amIn case you do resolve to shut the enterprise it is normally greatest to affirmatively dissolve it with the Secretary of State by submitting the required type.
In case you depend on administrative dissolution (by not paying the price) then there may be normally a multi-year interval throughout which the enterprise may be reinstated by you or another person, simply by paying the again charges. I do not suppose this kind of enterprise hijacking is especially widespread, however why take the prospect?
Glorious level.
Thanks.
Re: closing now LLC in 2025 ?
toddthebod wrote: ↑Solar Sep 01, 2024 11:27 amNyc10036 wrote: ↑Solar Sep 01, 2024 11:23 amtoddthebod wrote: ↑Solar Sep 01, 2024 10:39 am1. Does the LLC personal any belongings?
2. It’s worthwhile to amend your plan to checklist your self as sole proprietor because the plan sponsor, or you must terminate the plan and rollover the belongings into one other plan or an IRA.
No. No belongings. I do software program consulting.
Thanks.
Then it ought to be straightforward sufficient to shut, assuming you are not returning to that enterprise anytime quickly.
I’m a bit unhappy about it to be trustworthy as a result of I wish to proceed the work.
However I haven’t got an excellent community and sufficient contacts for such a work.
Paying $75 a yr for no earnings appears foolish.
