Friday, January 2, 2015

Can you be a sole proprietor in one business and form a llp in another business?

Can you be a sole proprietor in one business and form a llp in another business?
Yes you can have as many of both as you want, just make sure the liability of one business will not wipe out all the rest in case of a potential litigation down the road.
Also I would suggest you speak with a accountant about tax liabilities with several different sources of income as you have mentioned.

I also strongly believe this subject should be treated cautiously.

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