Multiple Businesses: Do You Need More Than One LLC?

Do you need more than one LLC for multiple businesses? I will explore this question in a brief timeframe of whether or not you need more than one LLC to run numerous companies and if such a practice would benefit you. I'll look at the pros and cons of owning multiple LLCs and discuss some of the possible tax implications.

"In this video, I'm going to show you when you need to create multiple LLCs for your multiple businesses and when you don't need to worry about it." 0:06

If you are an entrepreneur with multiple businesses, consider setting up more than one LLC to ensure optimal protection and ensure the use of advantages.

Having more than one LLC can help you to keep your business operations separate and protect your assets.

Multiple businesses can be a great way to improve your business efficiency and grow your income. However, it's essential to ensure that you choose the right type of LLC for your business needs. That is if you require multiple LLCs for your business operations.

Whether you're a small business owner or a prominent business owner, it's crucial to have a plan for succession and wealth preservation. This video will help you decide if owning multiple LLCs is your right strategy!

If you have any questions or comments, please feel free to leave them below.

If you enjoyed our content, then be sure to subscribe and share it with your friends!

Show Notes:
0:00 Intro
0:23 Multiple LLCs
1:07 Existing Activity
2:38 Liability
5:16 Business Activity
6:40 Owners
7:55 Future Sale
10:31 Cost
11:45 Outro
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ABOUT CLINT COONS

Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.

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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

#LLC #multiplebusinesses #clintcoons

[sandrapaim]

That's exactly the question I have! I was browsing your channel this morning looking for something like this and you just posted it! Thank you!

[Jc-smvi]

"Guys, you know what I'm saying...the stuff that gets painted in the nails." 🤣🤣🤣🤣🤣that got me cracking. You know, the thing of the thingy, lol.
Very informative video. Just what I needed for my llc.

[NatashaK]

Thank you for this! Question, can I run the same business entity if I'm selling insurance & doing credit repair?

[itzdon]

I’m going to pass my trucking training soon and become a lease operator, I also want to have a YouTube channel for my trucking business, how would that work? My company also helps us create out LLC should I just ask them ?

[lillianluna-garcia]

Hi Clint I do want to start a LLC. I do live in California and I have one property and will be acquiring a second property in California. I do want the Asset protection, and to be anonymous. Do I need to set two different LLCs in California or should they be hold together. I will be refinancing soon once the rates are down so for right now I had to keep it under my name what would you recommend to start structuring to accomplish my goals. Since I want to remain anonymous in the future? Please reach out

[wjfxpib]

I formed a generally named LLC, “Smith & Co” (example) to start a business to have a booth at the local Saturday markets but it fell through. I’m now looking into starting a Turo business and have a name tailored for Turo, should I umbrella the Turo business under the LLC?

[MrSiddji]

DBA … is that setup under a SSN or will that be a LLC?

[kutlessmedstudent]

I got my LLC up and running, but now no bank will give the LLC a loan, instead they want the loan to be in our personal name which would be public record and the property would be deeded into the LLC or trust. this is very frustrating

[justinhart]

What is nail Polish Alex
Yes you are correct
Things that cut your nails for 400 Alex