Hi,
Curious what you ended up doing with your businesses as I'm looking at doing something similar with a number of websites?
Hi,
Curious what you ended up doing with your businesses as I'm looking at doing something similar with a number of websites?
While most business websites serve as a shop window for existing brick and mortar businesses, it is increasingly the case that some websites are businesses in their own right; that is, the products they offer are only available for purchase on the web.
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Have a QuickBooks Accounting Software question or problem? Free Accounting Software to other users?
If there is liability issues and umbrella structure works well as all related business can form their own LLC under the main business entity effectively creating the umbrella structure.
Each of your websites would be considered a seperate company for your records to record expenses, revenues, etc. As ZahiD stated, you would then create an umbrella corporation for tax purposes to incorporate each of your websites.
I'm an accountant based in Westport, Connecticut. I help businesses with various accounting needs, including anything from basic bookkeeping work to advanced financial modeling and consulting work. In addition, I teach businesses how to integrate QuickBooks effectively into their day to day business operations.
As mentioned, I appreciate that you have 25 websites but as they are in the sporting industry you may be better to combine the sites into one main site, managing 25 sites is a fairly big task and it could be easier in the long term to support one main site.
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