Using one LLC for multiple purposes?
Hi all, I realize this may have been asked before but did not find any recent answers.
My question is: can/should I operate under one LLC if I want to provide a service (e.g. dog training) and sell goods (e.g. dog collars & harnesses) under one LLC (with a neutral name, e.g. “A Dog’s Life LLC”)?
The revenue would be small enough that creating two separate LLC’s wouldn’t make a lot of sense IMO. But would I need to keep track of separate expenses (eg separate materials for goods sold and hours or expenses related to training), and create two separate bank accounts?
Or can I, as long as I operate under one LLC name, just keep everything combined in one place without major drawbacks?
Thanks in advance!!!