More than one co.

We use a generic S Corp with two dba's. Separate books and bank accounts but file under one TIN.

Tonyg said:

We use a generic S Corp with two dba's. Separate books and bank accounts but file under one TIN.

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Thanks I will look into that. I am just trying to simplify as much as possible. BPTL

Probably should check with an accountant, I remember a class I went to, he talked about separate companies, you can lease from one to another, equipment, shops. A lot of ways to write things off. Sorry I can't remember more.

I have 3 businesses, each as a separate corporation. Each does different things, and it made no sense to me to intermingle them in any way. Also, it makes it easier to sell one without disturbing the others.

One of the companies provides services to the other 2, as well as other companies. As RC Painting says, there are some tax benefits to doing it that way.

Brian Phillips

Brian said:

I have 3 businesses, each as a separate corporation. Each does different things, and it made no sense to me to intermingle them in any way. Also, it makes it easier to sell one without disturbing the others.

One of the companies provides services to the other 2, as well as other companies. As RC Painting says, there are some tax benefits to doing it that way.

Brian Phillips

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The reason we stayed with one corp was to take advantage of a long history for credit, established accounts, etc., and especially workers comp. There is definitely value in an established EIN or D&B number. At some point in the next couple of years we will spin one off into its own corp to sell.

The original business plann for the painting was to create two dba's - one for residential and one for commercial - operating under one corp. Mainly for marketing purposes. As of now we are working on one until we can build up both markets.