Submitted by: Brian
Hi guys,
I appreciate the insights you share in this podcast.
Background:
I have two LLCs. One holds title to rental real estate, the other is a family services company. The services company is also the manager of the LLC holding title to the rentals. Both are very small but the whole family is on the board of advisors for each LLC. But because they are separate entities, they need separate annual meetings and minutes.
Question:
Can I have a single, physical meeting annually that covers two LLCs for board meetings and minutes, e.g. meet one day to discuss LLC #1 and meet the next day to discuss LLC #2? And if so, can I deduct the travel and related costs under one of them, or do the costs have to be split somehow?