Hello @Shannon Robinson
Ideally you would want to separate them due to being 2 different primary business practices. Could draw a lot of red flags to government regulations.
Plus regarding asset protection if something were to happen through driving Uber and you get sued, all assets (your real estate portfolio) could be at risk.
Disclaimer: I am not a lawyer and I am not providing legal advice. I would recommend discussing with a layer.
@Shannon Robinson , quick question back: Why would you need an LLC to drive for Uber?
Create an LLC and have two separate DBAs for both companies and tax purposes
Thanks everyone, your responses are definitely appreciated and it gave me some great insight and understanding.
I am not sure a DBA provides you any additional tax protection. It simply allows your company to go by a different name.
If you are operating a vehicle to operate a business - the carrier may require you to have commercial insurance on the vehicle.
Is the car that you are driving valuable?
is the real estate that you own valuable?
depending on the value and your tolerance - you may not want to combine the 2 assets/businesses under one LLC.
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