Wallace Thomas

Separate Property: As there is no distinction between the owner and business in sole proprietorship therefore any creditor of the proprietorship can also claim on… Read More »Why Would You Prefer One Person Company Compared To A Sole Proprietorship?

Basically, you are the sole owner of the said sari-sari store. This type of business is called sole/single proprietorship.” Advantages: The owner keeps all the… Read More »Is Sari Sari Store A Sole Proprietorship?

Advantages of a partnership include that: two heads (or more) are better than one. your business is easy to establish and start-up costs are low.… Read More »What Is One Major Advantage Of A Partnership Compared To A Sole Proprietorship?

Sole proprietors and partners pay themselves simply by withdrawing cash from the business. Those personal withdrawals are counted as profit and are taxed at the… Read More »How Does A Sole Proprietor Pay Himself?

Advantages of sole trading include that: you’re the boss. you keep all the profits. start-up costs are low. What are the advantages and disadvantages of… Read More »What Are The Two Advantages Of A Sole Trader?

As a sole trader you retain all the profits from the business, rather than having to share them with other shareholders (or leave profits in… Read More »Why Is Sole Trader Important?

A ‘sole trader’ is the sole owner of a business, meaning the owner and the business is one combined legal and financial entity; whereas a… Read More »How Do You Tell If A Company Is A Sole Trader?

There’s no paperwork required to establish a sole proprietorship–it’s automatically created as soon as you start doing business. However, if you’ll be using a business… Read More »What Are The Legal Requirements For A Sole Trader?

A sole trader is a specific business structure, whereby one individual runs and manages the whole business. However, someone is considered to be self-employed if… Read More »When Would You Use A Sole Trader?