Can I have multiple business activities under one LLC?
I’m a single member LLC. I’m involved in several businesses. 1) photography- actual business involvement trying to sell photos 2) real estate- expended money actively searching and reviewing income producing real estate investments and 3) invested small portion in an interest bearing note yielding only interest income for now. May be converted to equity stake. To keep it simple for now, can i consolidate all the expenses incurred to search for realestate and buying photo equipment under the same LLC? So far, only received interest income and minor income from photo sales which have not exceeded the expenses to date. thanks
Yes, you can. We have 3 separate business units under one LLC. But, talk to your accountant about how to set it up.
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