Tax/LLC question?

1 ⤊

Ok bare with me as i try to explain my situation :-)
Ok i have a mortgage processing business which is an LLC, I plan to have as a main company and also I have a virtual secretary business (which isn't registered as of yet) I wanted to know should I put the virtual secretary under the LLC or make it an LLC as well for tax purposes? The virtual secretary doesnt make much money, just the mortgage loan processing business. Should I have it under the Loan processing business or can i? Or do i have it as its own LLC? What would be the tax advantages and disadvantages of doing so? any answer to any part of my question is helpful. Thanks

2007-01-14 05:57:44 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes

2 answers

Generally, the advantages for a LLC are legal and not tax related.

A single person LLC pays the exact same taxes as a sole proprietorship.

2007-01-14 06:44:52 · answer #1 · answered by Wayne Z 7 · 1⤊ 0⤋

you need a tax pro

2007-01-15 06:51:59 · answer #2 · answered by Dizney 5 · 0⤊ 0⤋