Can one business provide multiple services?

The answer is yes–it is possible and permissible to operate multiple businesses under one LLC. Many entrepreneurs who opt to do this use what is called a “Fictitious Name Statement” or a “DBA” (also known as a “Doing Business As”) to operate an additional business under a different name.

Is it smart to own multiple businesses?

You can create separate LLCs or corporations for each of your businesses, because there’s no limit to how many a person can form. The biggest advantage to this approach is that each business won’t have to assume the risk of the others; they’ll all be legally and financially protected from one another.

Do you need a different EIN for each business?

Generally, businesses need a new EIN when their ownership or structure has changed. It is not possible to use the same EIN for different Entity types or for businesses that are not related. Because these types of businesses fall under different tax rules, they require separate EINs.

Do I need a separate EIN for each DBA?

That’s because an EIN is used for tax purposes, and your business is the entity that pays taxes. Your DBAs are just your business nicknames, and therefore, you won’t have a separate EIN for a DBA. Not all businesses need an EIN.

Should I start multiple businesses?

In business, it’s a good idea to run multiple businesses but it can’t be done while you’re just starting. It will save you more time, energy and money if you concentrated on doing one business at the start and then building the second after the first has taken off.

Can a DBA have two owners?

If your question is about what you think is a sole proprietorship, it can only have one owner. 1 There may be other individuals on such an account as authorized signers, but not as account owners.

Does each LLC have a different EIN?

Different entities require different EINs, and if companies share an EIN, then if one company is sued, both companies could be liable. This is why many business owners obtain a unique EIN for each business.