I had to establish a brand-new LLC in New Mexico (saving $600 compared to my home state), secure a registered business address with a virtual mailbox there, obtain an EIN, set up a business bank account, deposit $20,000 (coulda done w $3k) into it, and begin making biweekly consultant payments to my husband. After four payments, we felt confident and proceeded with the application.
Supporting documents included:
• A letter from me authorizing him to work
• A contract as proof of employment
• Pay stubs
• His bank statements showing a $16,000 balance along with the deposited payments
• Moderate spending to ensure the account appeared active without depleting funds
Now, he is officially a financial consultant—the income just happens to originate from the proceeds of our home and rental property sales.
I understand that you can dip out and then you have to show that it’s there and can dip down and then show it there and dip down etc… so it has to be there.
What I’m saying is you can’t have 500k and just spend it down