Skip to Content

How a tax extension can delay a business loan application

KTVZ

By OLIVIA CHEN of NerdWallet

Filing for a tax extension is sometimes unavoidable. But if you are planning to apply for business financing this year, an extension could cause delays in the underwriting process or paint an inaccurate or out-of-date financial picture of your business. In turn, those issues could keep your business from the financing it needs. Both business and personal taxes for all majority business owners and potential guarantors factor into a business loan application. To avoid a potential delay or disqualification of your loan application, experts recommend maintaining good bookkeeping practices, consulting tax and bookkeeping professionals and planning ahead for business goals.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KTVZ NewsChannel 21 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content