Hello
I have an LLC, I am the only owner. It just has few websites under it, and i like to publish books or magazinees later may be. I do everything myself from home. Few news websites on generally hi-tech subjects, which makes money by ads so far, may be i sell things later too. it started as my hobby then i turned it into a business. it doesnt make much money, and usually i was at a small loss, and rarely profit, though i always had income.
Totally irrelevant to that, I am also an engineer in construction industry. and I want to start doing construction consulting from home. i can do things such as schedules, estimates and engineering reviews. no physical work, no office, just do consulting from where i am. (I am a licensed PE too but didnt do construction or engineering consulting business on my own before, I always worked somewhere and still working).
Question 1) now when i start to do construction consulting on the side from home, can i combine the two separate things under the existing LLC? or i should establish a 2nd LLC? What are the disadvantages of having 2 LLCs if any? does it expose you to audits more for example? not that i afraid but still want to avoid the hassle - IF a 2nd LLC will do just that... or i shouldnt be concerned at all and just establish the 2nd LLC? because it will make everything easier and also from insurance point of view too? (because i have to have insurance when doing construction consulting) overall what are the advantages or disadvantages of having 2 LLC vs 1?
Question 2) i am still continuing to work somewhere as a full time, but with no benefits i.e. as a contractor status, does it affect anything when i do construction consulting on my own at home? as far as insurance or whatsoever?
I have an LLC, I am the only owner. It just has few websites under it, and i like to publish books or magazinees later may be. I do everything myself from home. Few news websites on generally hi-tech subjects, which makes money by ads so far, may be i sell things later too. it started as my hobby then i turned it into a business. it doesnt make much money, and usually i was at a small loss, and rarely profit, though i always had income.
Totally irrelevant to that, I am also an engineer in construction industry. and I want to start doing construction consulting from home. i can do things such as schedules, estimates and engineering reviews. no physical work, no office, just do consulting from where i am. (I am a licensed PE too but didnt do construction or engineering consulting business on my own before, I always worked somewhere and still working).
Question 1) now when i start to do construction consulting on the side from home, can i combine the two separate things under the existing LLC? or i should establish a 2nd LLC? What are the disadvantages of having 2 LLCs if any? does it expose you to audits more for example? not that i afraid but still want to avoid the hassle - IF a 2nd LLC will do just that... or i shouldnt be concerned at all and just establish the 2nd LLC? because it will make everything easier and also from insurance point of view too? (because i have to have insurance when doing construction consulting) overall what are the advantages or disadvantages of having 2 LLC vs 1?
Question 2) i am still continuing to work somewhere as a full time, but with no benefits i.e. as a contractor status, does it affect anything when i do construction consulting on my own at home? as far as insurance or whatsoever?
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