If you and spouse were buying a business would you buy as a single member LLC or Multi member LLC?

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Oct 6, 2024
12:27:16pm

JamieTartt All-American

If you and spouse were buying a business would you buy as a single member LLC or Multi member LLC?

State of Colorado.

Any opinions?

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JamieTartt

Previous username: Taccoug
Bio page: JamieTartt
Joined: Aug 14, 2016
Last login: Oct 6, 2024
Total posts: 7,343 (8 FO)

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Messages

Author

Time

If you and spouse were buying a business would you buy as a single member LLC or Multi member LLC?

JamieTartt All-American

12:27pm

S Corp

12:28pm

What type of business?

Archaea

12:28pm

Retail. Low liability

JamieTartt

12:30pm

Pay a good lawyer to help decide. It will save you money and headache later.

TailgateU

12:29pm

Do you mean tax lawyer?

Plato

12:37pm

Taxes aren’t that complicated to justify a lawyer. I’m a CPA and understand the differences.

JamieTartt

12:52pm

If the business is going to make a lot of money, a tax lawyer is absolutely

Plato

12:54pm

It’s not crazy money. One state.

JamieTartt

12:55pm

Does Colorado recognize tenancy by the entirety? And does CO law protect T by E

BYUMizzou

12:39pm

What kind of retail?

12:45pm

Brick and mortar (lease) Specialty shoes. $550k sales Spouse may work a few hours. Absentee overall

JamieTartt

12:54pm

Is there any reason to put your spouse on the LLC or not?

2:04pm

Multi-member will provide more creditor protection. Forming an S-corp is a

Real Men Wear Blue

2:24pm

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