LLC and Entity Formation

[Mark Welp]

Hello,

I am not a lawyer, but I am curious on what people are doing. I have two single member LLC's which hold rental properties owned by me (I like to keep a 3 or 4 properties in each LLC).

However, for marketing purposes and general costs, I would like to create some sort of entity just to market my investment company (for example "Mark Welp Landholdings".)  This entity would not have any rental properties in it; really just for marketing and some general costs.  What is the best way to do this?  Just set up a separate entity?

I will ask my attorney as well.  Thanks!

[Frank Chin]

Steve, Mark is just using it for marketing purposes, like making up banners etc.

I had the same situation. I had a software consulting, IT business, established the business reflecting that. via an S Corp. Then my wife started a business marketing nutritional supplements,, and we decided to do it under the same corporate umbrella as well, using my S Corp. The problem was,, when clients issues checks to for her products, nutritional supplements, it's written to an IT company. So the DBA and a separate bank account solved the problem.

While my business income at the time was steady, hers was quite sporadic, and we don't know how good or steady it will be. We had CPA's doing my taxes, and another entity would involve another set of books, separate Federal, State, Local, sales tax returns separate sales tax exemption certificates.

Mark has a less compelling problem. I can't see him doing all that extra work, extra tax returns, for another entity if all he wanted is a snazzy name for marketing to put on banners. If he wants to separate his costs, sales and expenses on his DBA can be assigned a separate class if he uses Quickbboks.