Blanket LLC

[wheatgrinder]

Hi,
I have an LLC for "other biz" purposes, but never really DO anything with it.. What should I do to operate my film biz under the LLC? Maybe I should pay for stuff with checks from the LLC? I just have a pass through biz, no separate accounting.. just personal income etc. I mostly use this for tax bennies, but I am a profitable video biz so its "fer real" ..

thoughts.. ??

 

[Blade_Jones]

Hi,
What should I do to operate my film biz under the LLC? Maybe I should pay for stuff with checks from the LLC?

Hold a shareholder meeting, elect to make film activities part of the corporation. Document it on paper according to corporate formalities. Keep all financial stuff related to film separate from your personal stuff. Yes it's ridiculous bullshit but you HAVE to do it the right way. There's so much more to it than the companies that try to sell you on incorporating will tell you. If you fail to do everything right then you can be sued personally -- AKA "piercing the corporate veil". Sounds like you really need to read up on how to maintain a corporation.