We are a family of 4 - 3 adults (Green Cards), 1 minor(US citizen)
We have travelled almost 70% of states by road already and some international destinations. Going forward, We want to turn this into a business.
We want to write publish market and sell travel guide book. We also want to create an app that may have suggestions for travelers. Suggestions would be from places to see and do to food and stay... so on and so forth.
To name a few expenses, we will need a car to travel (rent/own), sometimes air tickets, hotel expenses laptop/s to write, image editing software. And then pay to print, publish and market the book. All of these will cost a lot of money so I want to see if I can plan smarter to begin with and form a legal entity for rightful tax benefits.
Hence the questions with the above information in mind...
1) What type of company would be the best option for the purpose with all of us as partners? We don't want to open ourselves to high liabilities. I was thinking LLC considering the same and also because of our visa statuses (Green card).
2) Can minor be a partner in the company as he will also write his experience from kid's perspective.
3) This one is big... I am thinking of buying a used car for the purpose by paying cash. If I want to take cost depreciation for purchasing a car instead of taking actual expenses and I want to make it as straight forward as possible then does it make it easier if I purchase the car under company's name?
4) any suggestion you may have...
Thanks
