Business structure...one LLC or many

ckboothckbooth Posts: 1subscriber
edited June 2009 in Business Planning
I have a question that I hope someone can answer.  I`d like to know if I should create a single LLC that encompasses all my business activities, or if I`d be better off creating multiple businesses.  For example, if I were to have multiple revenue generating websites and if I were to do freelance work on the side, would it be possible for me to create one LLC that encompasses all of the websites as well as any freelancing I do?
 
Currently, I am billing as a sole proprietorship/dba for the freelance work, I have registered one website as an LLC, and I am in the process of starting another site.
 
The key concerns I have with regards to this issue are...

Ease of folding in additional businesses/websites in the future
Accounting and taxes
Issues with selling a single business/website
Being able to accept credit cards on different sites under different names

 
Thanks in advance for your help.
 
Chris

Comments

  • liquidatebiz12abliquidatebiz12ab Posts: 0subscriber
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  • ckboothckbooth Posts: 1subscriber
    Mark, thanks for the reply.
     
    You brought up some good points.  I`ll continue to research the matter and consider your points before making a decision.
     
    Thanks,
     
    Chris
  • StevenSStevenS Posts: 1subscriber
    My first inclination would be to say separate. But you also have to look at risk vs expense. Are the websites very different in risk of exposure to legal action? Are you giving any type of professional advice or offering services on these sites that might subject you to legal action? 
    I would create a risk scale on a sheet of paper and rate them by level of risk. Each website should stand on its own as to if it should be incorporated, put in an umbrella, or sole prop. Also, remember you will need to keep each corporation very separate and keep really good records for each corporation you create. If you don`t keep proper records and documentation then you may be exposed even with a corporation.Just my .02I hope this helps.
  • infiniqueinfinique Posts: 0subscriber
    I think it's not really advisable to start too many companies within the first year. That's one of the reasons why companies go bust. Focus is crucial in the beginning.
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