Multiple Businesses Under 1 LLC

[Scott Stevenson]

Hello! I have a quick question about an idea for an LLC and I am not sure if this is possible, how it would work, or if it would be the most effective way to go about it.

I currently have 3 different professions, you could say. 

I own an online personal training company. 
I am a real estate sales agent. 
I am a real estate investor. 

My idea is this: 
I want to have 1 LLC in which these three businesses would operate under it. 
For example.. it might be called "The Stevenson Company, LLC" 
I read that you can then have 3 different DBA's under that, each for the professions that I am in.

My goal with structuring this LLC would be to potentially use the income generated from one area (personal training company) and use it to grow another area (investing) under the same tax filing. (not sure if there is a benefit to doing this)

I am just trying to consider ways to use income in one profession and reinvest in the other businesses so that it can be used as expenses and deductions when it comes to tax filing. 

Also, I figured that having all income and expenses in one place would make things a little easier when it comes time to file. 

I probably made this a lot more complicated that I needed to. 

Thanks for your help. 


 

[Brandon Hall]

@Scott Stevenson there's no real tax benefits to maintaining separate businesses under one LLC. I would highly recommend that you do not do this for two reasons:

1. Taxes will be an absolute nightmare for you since each of these businesses will need to utilize completely different types of accounts;

2. While I'm not an attorney, you will be exposing yourself to unnecessary risk. by going this route. Theoretically, your personal training company is exposing your real estate investments to risk when it doesn't need to.

A better route would be to create three LLCs that area each owned by a parent LLC. The parent LLC, if not a SMLLC, will handle the tax reporting.

P.S. you cannot roll the profits of your businesses into rental property and claim a deduction for the money you've spent on acquisition. This is seen as moving money from pocket A to pocket B - you don't actually "spend" it.