Multiple Ventures? One Business Structure? Or Multiple?

Discussion in 'Growing and Managing a Business' started by LindseyInteract, Jul 14, 2015.

  1. LindseyInteract

    LindseyInteract
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    Okay, so currently I do Internet Marketing for clients, where I provide them websites, I provide them online consulting into their marketing, seo, social media, etc. Now, I have started an online auction company that I run through the same business structure (The same LLC), however, I have some other ventures as well (ALL ONLINE BASED) that I would like to do as well.

    All of them are ALL online based, meaning all the transactions will take place online, all products will end up being dropped shipped or things of that nature, but it will be multiple eCommerce types of businesses.

    So my question is, should i keep them all under my single LLC that I have now (Lindsey Interactive, LLC) or should I make individual LLC's for each venture?
     
  2. Stef

    Stef
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    If it doesn't cost you anything to make a few LLC's then just do it (which I don't think is the case). Everything will be neatly seperated then.
    Otherwise just keep it all in one LLC and ask your accountant to handle all of these businesses seperately. At least that's what I am doing at the moment. ;)
     
  3. LindseyInteract

    LindseyInteract
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    I mean it cost $50 per LLC to create, then you have to pay individual filing fees for the end of the year on the tax returns for each business.
     
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  4. Stef

    Stef
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    Alright, then I would just consider making seperate LLC's. Otherwise it will just become a big mess for you and your accountant in the future. :)

    - Stef
     
    #4 Stef, Jul 14, 2015
    Last edited: Jul 14, 2015
  5. Ted

    Ted
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    I have a similar setup to yours except my LLC contains a brick and mortar business as well as multiple online businesses.

    I spoke in depth about this with my attorney and with my CPA. Here is what they told me.

    The LLC should serve as the actual business entity with its own tax payer/employer ID. Then the other businesses (both online and offline) should each be ran as a simple DBA inside that LLC. If any of the small online ventures or offline ventures were to become a much more successful business then I would simply spin off that business and either create a separate LLC or incorporate depending on what made the most sense at that time.

    The idea behind nesting all the businesses inside one LLC like that was to make it easy to launch new business enterprises while keeping the red tape minimized. So all of my taxes get paid under the one LLC which keeps it simple. If I want to launch a new business I simply file one piece of paper with New York State that tells them I have a new DBA. That piece of paper is really cheap to file and its not something that gets approved or rejected. You simply file it and then go about your business as normal.
     

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