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Anybody have multiple businesses

by George Pitts
3 replies
Hey I was just wondering if anyone on here had other businesses other than marketing. I do offline marketing in addition to IT Consulting for small and medium businesses. I decided to start a LLC and then do a DBA for my other ventures. I talked to a legal advisor that told me you can get an LLC and then do a DBA under that this way you dont have to have mutliple LLCs but still have the protection as the DBA is a part of the LLC and not of you which protects your assests. Anyone else doing something similar to this or do you seperate your companies all together.
#businesses #companies #consulting #multiple
  • Profile picture of the author Aimee D'souza
    Well ...Till now i am not engaged in any other business...but in coming year i'll surely start a one
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    wholesale
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    • Profile picture of the author Curtez Riggs
      I also operate a small credit repair company. The only advice I can give you is to ensure that if you operate a different business under the same LLC is to ensure that you obtain the necessary licenses, bonds etc...
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  • Profile picture of the author Amber Jalink
    Originally Posted by gmoney38 View Post

    Hey I was just wondering if anyone on here had other businesses other than marketing. I do offline marketing in addition to IT Consulting for small and medium businesses. I decided to start a LLC and then do a DBA for my other ventures. I talked to a legal advisor that told me you can get an LLC and then do a DBA under that this way you dont have to have mutliple LLCs but still have the protection as the DBA is a part of the LLC and not of you which protects your assests. Anyone else doing something similar to this or do you seperate your companies all together.
    I'm not in the US, so ours isn't called a "LLC", but I have a registered Corporation, which I "could" run other businesses under it with the "DBA" concept, however, due to tax reasons I don't. (As in, mess of keeping things separate). I like things simple

    However - I DO have a second business that is a sole proprietor and runs on its own aside from the Corp. The corp is my main business online, the other is my "sideline" (offline) alternate for tax purposes that my corp can't claim.

    I know that the laws are slightly different between the US and Canada - so make sure you check EVERYTHING.

    Not sure of where you live, but I have a friend in Florida, and she has a form of a corporation (Can't remember if its an S-Corp or an LLC). I remember her telling me she "has" to have payroll / taxes, etc., under them, whereas for example, under my corp, I don't - at least not if I'm the only one earning on it.

    I stopped having employees several years ago due to the horrendous cost in Ontario/Canada of payroll - I outsource on contract everything now, which saves payroll, since most of the ones I contract to are in the US anyway. And the few in Canada I work with, are their own businesses, and do work so minimally that it doesn't affect me.

    But, as I said, you want to make sure that you have everything in place, AND what your best tax options are too, not just for sake of "ease" of having one main "llc".

    (Talk to more than one legal representative, or talk to an accountant familiar with both).

    Amber
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    Amber Jalink, Founder http://www.dime-co.com
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