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Tax: I currently own an LLC. But i want to make sub-companies in diff service fields. How can i structure that especially when it comes to taxes?
DF
DF
David Favor, Fractional CTO answered:

Sounds like your attempting to use an LLC for liability protection.

Be way simpler + way cheaper, to just run the entire operation as a Sole Proprietorship + join a legal pool like Legal Shield (Ada Oklahoma) which provides support in all US states + territories + many overseas companies.

No entity will keep you from getting sued. People can sue you for anything, anytime.

If they're suit is wrong, it will be thrown out + you'll still have to pay attorneys fees.

If the suit is valid, no entity will protect you from fraud. This has been proved over + over again in court cases.

When court cases are involved, right or wrong does not apply.

The winner is the person/company who can go longest without going bankrupt.

If you're paying $100/month for unlimited coverage from a pool + the person who's suiting you has to pay $300+/hour for a competent attorney, you'll win...

Because you can outlast them.

Use a legal pool + when you get sued, work with your attorney to bankrupt the person suing you... by flooding them with court documents which they must answer + pay their hourly attorney fee... or drop their case.

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