We've come up with a list of 5 specific problems for LLC owners who don't follow the proper procedures when managing their LLC. Failure to fix these problems could be very scary for your LLC!
To avoid personal liability, which can come from the improper management of your LLC, you must focus on avoiding these problems: Problem 1: you forgot to pay the state and file an annual report Problem 2: you forgot to do an operating agreement Problem 3: you’re commingling funds with your personal account Problem 4: you operate out of your house without a lease agreement Problem 5: you treat your LLC like a sole proprietorship
CEO & Founder of SmallBiZ.com, created over seventeen years ago to help small business owners simplify the process of starting & managing their small businesses. SmallBiZ.com now serves over 10,000 businesses per year with various filing and subscription services; in addition to the 1000's of daily visitors to www.smallbiz.com, accessing free services, help pages, & educational videos & webinars.