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It answers my question. Thank you. I have some logical followups, though.
Is there a form for assigning my interest in the dba to the llc, or can you point me towards some language? I just want to make sure this is done right, because it would no longer be on my personal tax return.
If I have each business in its own LLC, that would be more expensive, I'm assuming. Multiple filings, etc.
Let's just say I wanted to keep things the way I initially wanted them. I could have the LLC dba as 2 separate things, right? And then when I file my returns, I would list them on separate schedules.
I think I understand. So, what you're saying is I couldn't have XYZ LLC dba Widgets and dba Gadgets (and thus the incomes from both would determine the overall income of the LLC)...right?
I'd have to have WIDGETS LLC and GADGETS LLC and ditch XYZ LLC, right?
Somewhat, yes. Rated you already. Thx.
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