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    6 Replies Latest reply on Apr 20, 2009 12:44 PM by LUCKIEST

    Grouping companies under one umbrella

    alpha3915 Newbie
      I have an Insurance and a Tax Preparation service. Both companies are registered under different structures. One a Corporation and the other an LLC. I did it this way to keep all expenses and other items sepearate including bank accounts. As both businesses continue to grow it just leads to more headache like two tax returns, etc.

      I would like to consolidate under one assumed name eg. ABC Group LLC or Inc. One of the tax advantages is filing one tax return instead of two. Additionally I can offset tax liability from one company with losses in the other under the group filing.

      Are there any other benefits or disadvantages I should be concerned about?