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Yes. Actually, not only are you allowed to have your home be your LLC address, but you can write off a portion of the rent/mortgage in the area that you use for all LLC business activities.
How to figure how much to write off?
Lets say your home is 1,000 square feet. If you use 250 SF as your office in your home you can write off 25% your rent/mortgage.
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∙ 11y ago
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Can a LLC invest in its parent LLC?
Yes, a LLC, that is, a LLC that is member of a LLC, could theoretically make a distribution to its parent LLC. Although, where member(s) of the LLC that is a member of the "parent" LLC are also member(s) of the parent LLC violate certain imputed fiduciary duties, the potential arises for unlawful self-dealing to occur.
Is an llc member liable for llc debt in Colorado?
In Colorado, an LLC member's liability for the LLC's debts is generally limited to the amount of their investment in the LLC, unless they personally guarantee the debt or engage in wrongful or fraudulent acts. Members are not usually personally liable for the LLC's debts in Colorado.
Can a member of LLC be a minor?
no
Can a minor be a member of a LLC?
no
Where can one find information regarding a single member llc?
A single-member LLC is a liability company with only one member. One can find information on a single-member LLC including tax information and forms at the IRS official website.
Who signs w-9 when it is an llc?
The Business Owner if single-member llc, Accountant.
Can a family trust be a member of an llc?
yes
If you are personally sued but a member of an LLC can they collect from the LLC?
Yes, but if it was reverse they wouldn't be able to coma after you personally.
Can your single member real estate llc rent to your single member business llc?
Yes. Although a single member LLC is a "disregarded entity" for tax purposes, in other respects it is treated as any other LLC. The fact that one person owns the membership interests in both LLCs does not prevent them from forming an agreement that is valid between them.
Can a partnership be a member in a S-Corp?
Members of a partnership. First member is sole owner llc, 2nd member is an S-Corp owned by the same person that owns the llc. Will this meet the requirements of a partnership?
What are the pros n cons in holding property in a llc versus holding a property in a trust?
The best way to do this is to form an LLC with the trust as the sole member of the LLC, this creates a layer of liability protection for the trust.
What are the LLC laws in Tennessee?
Tennessee Secretary of State's office, home page for business formationTennessee Name availability searchTennessee Articles of Organization for an LLCFiling Fee: $50 per LLC member (minimum of $300, maximum of $3000).Name: An LLC name must contain the words "limited liability company," or the abbreviation "L.L.C." or "LLC," or words or abbreviations of like import in another language; provided, that they are written in roman characters or letters; and provided further, that, in the case of a foreign LLC, the name may contain, in lieu of the foregoing, the designations allowed by the jurisdiction in which the foreign LLC was formed or organized.Board-managed LLC. The Tennesee LLC Act has a twist not found in the LLC Acts of the other states (except for Minnesota and North Dakota). LLCs in all other states are either member-managed or manager-managed. Tennesee also breaks its LLC into two categories but they are (a) member-managed and (b) board-managed. For more information, see "New Management Structures" section of this article.Tennessee Statutes relative to Limited Liability CompaniesAnswerTennessee LLC Formation Code § 48-281-101
