What is the name of your state? Minnesota and possibly New York
I have a number of small businesses (all sole proprietor) in related but different areas of business. I want to create an LLC or S Corporation which would own all the businesses for tax purposes.
So, for instance:
Blowfly LLC DBA Deluxe Design
Blowfly LLC DBA Crypto Photography
etc...
If I do this, can I bundle all the sales and expenses of each DBA into a combined sales and expenses for the LLC?
Apart from registering the LLC and moving the DBA registrations over to show the LLC as the new owner would there be any other actions I need to take?
Thanks for any thoughts.
I have a number of small businesses (all sole proprietor) in related but different areas of business. I want to create an LLC or S Corporation which would own all the businesses for tax purposes.
So, for instance:
Blowfly LLC DBA Deluxe Design
Blowfly LLC DBA Crypto Photography
etc...
If I do this, can I bundle all the sales and expenses of each DBA into a combined sales and expenses for the LLC?
Apart from registering the LLC and moving the DBA registrations over to show the LLC as the new owner would there be any other actions I need to take?
Thanks for any thoughts.