LLC Tax Question and Liability ?

Question

I currently have a business formed as an LLC in Pennsylvania and file a 1040/schedule C to report any income for the business. I am looking to expand my company in the same industry, but want to create a separate entity for liability purposes (other companies do the same within the industry). My question is if I form a second LLC will this be a burden for an accountant or will they just have to file two sets of forms for each business to show income or loss? I originally just wanted to file a DBA for the second company and make it a division of the existing LLC, but apprarently I wouldn't have liability protection this way.

Another option, which most companies in my industry do is file a C or S corporation and make the LLC a division of the C or S corporation. Would this be better for me. The new company I will be forming will make way more money than my existing LLC.

My existing LLC is a single member LLC if that is useful.

Thanks

Answer 1

check with your accountant..........you don't want to leave this up to all the people on y/a.........off the top of my head you'd go S for openers