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Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 3780
Experience:  20+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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I'm a partner in an LLC consulting business Can I do

Customer Question

I'm a partner in an LLC consulting business Can I do consulting on the side?
JA: Can you tell me what state the LLC is registered in?
Customer: Nevada
JA: Has anything been officially filed? If so, what?
Customer: The docs to start an LLC
JA: Anything else you want the lawyer to know before I connect you?
Customer: I do all the work and we split the income 4 ways-is that usual?
Submitted: 1 month ago.
Category: Tax
Expert:  Barbara replied 1 month ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Just because you are a partner in one business does not mean that you cannot generate income on your own UNLESS your LLC/partnership documents prohibit it as a conflict of interest.

As to the income split, that also would be specified in your LLC/partnership documents.

Both are subject to change by amending your documents.

Please let me know if I can assist you further.

Thank you and best regards,

Barb