Sole Proprietorship
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Sole Proprietor Taxes
Because you and your business are one and the same, the business itself is not taxed separately-the sole proprietorship income is your income.
Forming a Sole Proprietorship
But like all businesses, you need to obtain the necessary licenses and permits. Regulations vary by industry, state and locality
Advantages of a Sole Proprietorship
Easy and inexpensive to form, Complete control, Easy tax preparation
Disadvantages of a Proprietorship
Unlimited personal liability, Hard to raise money, Heavy burden
Sole Proprietorship
is the simplest and most common structure chosen to start a business. It is an unincorporated business owned and run by one individual with no distinction between the business and you, the owner.