Updated over 6 years ago on . Most recent reply
Partnership LLC or two separate LLCs partnering together
Hi, my parents are thinking of partnering with my father-in-law on a flip. My FIL already owns a painting company which is an llc. My question is whether it would be possible for my parents to start their own llc and go in half with my FIL's current llc which to me seems like it might make it easier during tax season or should they form a partnership llc together for the flip. This will be their first go at it and depending on how the flip goes they may decide to do another or might decide to go separate ways. Any help is greatly appreciated?