Alberto Ray

unlimited liability. Sole proprietors have unlimited liability and are legally responsible for all debts against the business. Their business and personal assets are at risk.… Read More »What Is The Liability Of A Sole Proprietorship?

owner. As easy and convenient it is to be Sole Proprietor, it has one major drawback. Sole Proprietorship liability is unlimited. Since there is no… Read More »Who Bears The Liability In A Sole Proprietorship?

single owner. A sole proprietorship is a business with a single owner who is solely responsible for all liabilities. In the eyes of legal and… Read More »Who Is Responsible For All The Liabilities In A Sole Proprietorship?

Sole proprietorships are subject to pass-through taxation, meaning the business owner reports income or loss from their business on their personal tax return, but the… Read More »Is Sole Proprietorship Subject To Income Tax?

While you may not legally need a separate business bank account as a sole proprietor, it is smart to have separate accounts as your business… Read More »Do I Need A Business Bank Account For Sole Proprietorship?

Retain earnings: If the corporation doesn’t distribute earnings as dividends to shareholders, earnings are only taxed once, at the corporate rate. Pay salaries instead of… Read More »How Can I Avoid Double Taxation?

What Is Paid-Up Capital? Paid-up capital is the amount of money a company has received from shareholders in exchange for shares of stock. Paid-up capital… Read More »What Is Paid Up Capital In Sole Proprietorship?

A sole proprietorship is a business that is owned by one person, and the business is not legally separate from the owner. A sole proprietorship… Read More »What Makes Sole Proprietorship Unique?