I am in the tire kicking stage of exploring insurance sales as a part-time (maybe full time, who knows) business.
I have an existing LLC that I use for a web design business. I have very little property on the books, $10K maybe. As of late I have done maybe $5K/year with that business. It's a two-member LLC (my wife and I) and we get taxed as individuals.
Does anybody know if it's generally legal to place an insurance business under an existing but completely unrelated LLC (web design)?
Obviously, I would set up a DBA for the insurance side of the business. I also understand that even if the insurance aspect was "covered" under the LLC, I would have to do two separate schedule C's (one for the web design, one for the insurance).
I have an existing LLC that I use for a web design business. I have very little property on the books, $10K maybe. As of late I have done maybe $5K/year with that business. It's a two-member LLC (my wife and I) and we get taxed as individuals.
Does anybody know if it's generally legal to place an insurance business under an existing but completely unrelated LLC (web design)?
Obviously, I would set up a DBA for the insurance side of the business. I also understand that even if the insurance aspect was "covered" under the LLC, I would have to do two separate schedule C's (one for the web design, one for the insurance).
