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.


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