independent business owner
If a company is paying me based on 40 hours a week, should my additional drive time be considered?
Question
I have 3 companies should I merge to one name?
Hello, I'm a young business owner 21yrs old and I can't decide on this one. I'm a independent. I originally started my own a Design firm (web, building) and it's grown to 15 employees and thats as far as I want it to go, I also own a Land Development/Foundation Company/Concrete Plant which I inherited and it does quiet well and I recently bought out my local a local design company. So now I own 3 companies with 3 different names. Should I merge all to one name? or keep as is? I'm scared it I merge to one name I could potentially loose a few clients? What do you think? I spend more on checks then anything! I do have Direct deposit but I still need checks. Sorry for all of the "AND" thanks got it. That is what I really could figure out is what to do with the "development company".
5 months ago - 2 answers
Best Answer
Chosen by Asker
Consult your CA / CPA and discuss about the pros and cons related with the tax liability and benefits at present and after merger and decide suitably. In the event if all three company's activity are related to each other in the same field i.e. building and construction, it may be better to merge as single company in order to manage the same and obtained the finance from the financial institutions.
by jupiter
5 months ago
Asker's Rating: 
Other Answers
the three business units are only related by their owner. No reason to consolidate to one name. The two design company's - well that makes sense to combine them under one name. The only reason to ever merge names or companies under one umbrella is if you think it will make you more money by building off the other brands. no one will want your web design because your concrete is strong. make sense? Good luck to you
by got it- 5 months ago