
It's possible this is unique, maybe not. Any advice would be greatly appreciated. My two kids and I are going to start a business together. All equal shares. My son is 21 and has a job where is is now able to claim himself on his taxes and has been for the last couple of years. My daughter is 18 and I still claim her on my taxes.The concern is how we work the LLC. If we create as a Multi-Member LLC managing investments, expenses, and profits will be much easier since we will all do it on our own but I don't believe I would be able to claim my daughter anymore and we would both lose out on that exemption since she probably won't even make enough this year to file. If we make it a Single Member LLC under my name then tracking would be a pain in the butt however, I would be able to claim her.Am I barking up the wrong tree? Is there a better way? Thank you for any advice you can give on how to accomplish this. see hubwealthy.com/wealthy






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