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Updated almost 2 years ago,
With Multiple LLCs - master bank account or individual accounts?
I have 3 rental properties all in individual LLCs. My intention is to continue to add to the number of total properties over time. Which LLC/bank account structure is best practice?
A) All LLCs have their own bank accounts.
B) A master bank account to handle all cashflow in/out of the group of LLCs (with appropriate breakout accounting).In this scenario, do I need to create an LLC to get a separate EIN for this biz bank account?
C) Create an umbrella LLC that owns each individual LLC and have a master bank account for the umbrella that handles all cashflow in/out?