Updated over 9 years ago on .
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Quickbooks setup for rentals and flips
Hi Everyone,
For QuickBooks setup, should I setup a separate company for my rental and flipping business? Both are currently operated within one LLC/Tax ID.
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First, i would form another LLC and separate the two businesses, the activities of both are taxed different - see an attorney about it. then in quickbooks you should set up 2 different companies and track each separately.