Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity.
Nine Tax Rules for Sole Proprietors
Tag: sole proprietorship
Comparing Business Entity Types: Which is Best for Your Business?
Sole Proprietorship What is a sole proprietorship? A sole proprietorship is a pass-through entity for a business with only one owner. Generally, contractors and freelancers choose to operate as a sole proprietorship due to its low setup costs. How is a sole proprietorship taxed? The business entity itself is not taxed; all profits and losses
Using an S Corporation may Reduce your Taxes
Depending on your entity type, you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by using an S corporation.
Top 5 Accounting Tips: Business Structure Matters
New and potential business owners should take care when selecting their business entity. How you and your business will be taxed is wholly dependent on the entity you select.