Out of state investing and business write offs?

[Domenick Cava]

Hey everyone. I am looking for some CPA, legal, or experienced advice on business write offs when investing out of state. I am currently looking at out of state investing and would like to parlay that opportunity to allow for expensed travel when visiting my girlfriends family. I was initially thinking that a LLC/partnership should be created in order to keep things clean. However, I thought it would be wise to reach out to the forums.

Any experience with out of state investing and business write offs?

What ways are the most efficient to maximize writoffs and minimize risk?

Thanks BP,

Dom

[Caleb Heimsoth]

Since you live in the great state of CA each LLC you create will require you to pay 800 dollars to the state. This is per llc, and it doesn’t matter if it’s registered in another state or not. Isn’t that great?

Also as Eric Adobo stated for most people llcs don’t give tax advantages. They can give liability protection (if you don’t co mingle funds with most do)

I hope you make a lot of cash flow to be able to afford that 800 dollar check to the state. Also check the laws of the state you put your llc in as they will also likely have annual fees., again per llc