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To combine business’ under one LLC is convenient, but runs liability risks. Separating the businesses under individual LLC’s, ensures that the assets, debts, and liabilities of each LLC are completely disconnected and shielded from one another in the event of any possible litigation.
This framework often consists of one parent LLC at the top of the hierarchy—let’s call it ABC Holding Company, LLC. People then typically create multiple sibling LLCs.
When you run two separate businesses under two separate LLCs, the assets and income of each individual company is also protected from any liability risk which might affect the other company.
Since your businesses are distinct, engineer and online store, and you don’t want the business’ to be liable for each other, you should separate the LLC’s and business accounts.
It may be tempting to start up that second business under the umbrella of your current LLC, but it often isn't a wise business move.
While operating both businesses under one LLC may offer you some shortcuts, such as simpler business administration banking, and only one annual filing fee, in the long run, these shortcuts are probably not worth the increase in potential risk.
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