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Need tips about starting multiple LLCs for the purpose of owning multiple Adsense accounts

Discussion in 'Business & Tax Advice' started by DPatel304, Aug 27, 2013.

  1. DPatel304

    DPatel304 Regular Member

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    I currently have two Adsense accounts. One is my personal, and one is under an LLC I formed a month ago. I want to know what I should be aware of, as far as taxes are concerned or anything else I should know. I'd like to open 3 more LLCs, but I don't want to have to owe a ton in taxes and have this huge mess on my hands come next year.

    Just FYI, I'm in a partnership earning $1,000 - $1,500 a month per Adsense account. I am responsible for the taxes on that amount (which I believe is around 25% for me, although that is just based on some quick searching. I am in Texas so I only have to pay federal income tax, and that is the tax bracket I fall under). Since I am in a partnership, my partner and I split the earnings. So I pay 25% taxes, 50% goes to him, so, unless I'm missing something, my profits are 25% of $1,000 - $1,500 per month per account. I'm not sure if this changes for business accounts.

    Any help would be greatly appreciated.
     
  2. securelinkbuilding

    securelinkbuilding Jr. VIP Jr. VIP UnGagged Attendee

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    You can set up a DBA, which means Doing Business As, and operate under a 2nd name. Just go to legalzoom and you can set it up all there :)
     
  3. DPatel304

    DPatel304 Regular Member

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    Thanks for the tip. Sorry, don't know much about LLCs or a DBA, but what would be the difference? Also, I'm assuming I can open another Adsense account with a DBA, which is my only reason for doing this.
     
  4. Travis Parker

    Travis Parker Newbie

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    I am questioning why you get 25% and you still gotta pay the taxes? Wouldn't be a JV I would probably do. LegalZoom is perfect for opening up LLC's and things in that area, I am sure they have free phone lines for questions on what you can do.
     
  5. DPatel304

    DPatel304 Regular Member

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    Actually I am getting 50%, but after taxes, it leaves me with about 25% while my partner gets 50%.
     
  6. JonnyMehoff

    JonnyMehoff Jr. VIP Jr. VIP Premium Member

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    I'm also in Texas, and I know the LLC fee is $300 for filing, and then any other filing fees for your specific city and county etc. Is your partner doing twice as much work as you? Why does he get so much larger of a percentage? Could you take your earnings and set up shop solo?
     
  7. JonnyMehoff

    JonnyMehoff Jr. VIP Jr. VIP Premium Member

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    Haha, another dead post I've resurrected from the "similar posts" below. Maybe at 3AM I should be going to bed instead of on here... :)