Parent company owning subsidiary to keep subsidiary's business distinct I am going to be forming a painting company (construction) soon, but I have other sources of income that I don't want intermingled with my painting company. But, for the purposes of loans and so forth, i just want to show myself as the employee of one company. Ideally, what I would like to do is have my painting company (either s-corp or llc) owned by a parent company (s-corp [because I want to keep self employment tax as low as possible.]) This way, I could be paid by just one company while keeping my other sources of income distinct from my painting business. My question is, is this plausible? I have a very basic understanding of tax law. I live in Florida if it makes a difference. Thank you very much for any help. |