My business entity (insurance, sales, lawyer, licensing)

[WillowsIvy]

To make a long story short my stepdad and I started a home improvement/property service business in the early 2000s. We eventually still did property services but he took care of some services while I took care of others. Sadly he passed , left me a house that I plan to do Airbnb with. I still want to continue doing the property services business...and have a really neat name covering both. I've asked my lawyer and accountant about combining and they haven't given a real clear cut answer except they wouldn't combine it for tax purposes...is there really reason why I couldn't combine it as a name? Thanks

[adjusterjack]

I've asked my lawyer and accountant about combining and they haven't given a real clear cut answer except they wouldn't combine it for tax purposes.

And that's all they told you?

I'd be replacing them both.

is there really reason why I couldn't combine it as a name?

I can think of a couple of reasons why not.

Licensing.
Sales tax.
Insurance.

Maybe more.

[StealthRabbit]

Depends on the State, but it's possible to open a 'series LLC' and use your desired name for each entity (and still keep them separate for legal / tax purposes.

https://en.wikipedia.org/wiki/Series_LLC

The following states and jurisdictions allow for the formation of a series LLC: Alabama, Arkansas, the District of Columbia, Delaware, Illinois, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, Nevada, North Dakota, Oklahoma, South Dakota, Tennessee, Texas, Virginia, Utah, and Wyoming. Puerto Rico also allows them.

Use legal discernment; (and guidance)
https://corporatedirect.com/real-est...fear-to-tread/

[StealthRabbit]

Originally Posted by WillowsIvy

...is there really reason why I couldn't combine it as a name? Thanks

If you don't want to go the LLC route.

You can file a DBA (Doing Business as) for your state registration.

You can add a different number / qualifier to keep them separate.

WillowsDarnNiceAbode-A and -B

or
WillowsDarnNiceAbode-Cottage
and
WillowsDarnNiceAbode-Services

2 separate entities.

Be certain (for liability and tax issues) to never co-mingle funds.
They each need their own Accts, checks, CC, insurance / bond...

Insurance / Liability / Bonding / Licensing is your most important 'gotcha'. Get very good guidance for that.

Of course the IRS likes to be dealt with properly (and can quickly shut you down).

[MrRational]

Originally Posted by WillowsIvy

To make a long story short ...

Not starting ever more new threads on the same questions would help more.

I still want to continue doing the property services business...
I've asked my lawyer and accountant ...

Using Dad's business entity depends on how all sorts of LEGAL things were done by Dad.
Going out on your own doing anything as Willow shouldn't be complicated.
Avoid cutesy names.