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Thread: Changing Direction

  1. #1
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    Default Changing Direction

    I started an LLC back in 2015 but admittedly have done very little with it. When it was started I stated it would be a consultation company (HR & Safety) and occasionally I do these things for some side work. With my regular job though it is few and far between. My question is this, I would like to keep the consultancy and eventually devote more time to that but at the same time I would like to use this business as an avenue to purchase/develop real estate. Do I separate them? Can I maintain the same name but split it into divisions? Just wondering how to approach this. Thank you.

  2. #2

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    The IRS is more likely to question expenses if you are using an LLC for all sorts of purposes rather than a narrow definable business. Some consulting here, some real estate developing there etc could be construed as individual hobbies and the LLC as a vehicle to try and write things off to avoid taxes. If you get into real estate developing, consider an entity just for that.

  3. #3
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    I was thinking that. I would like to do both but maintain the same co. name. Could the current company be an umbrella with divisions?

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