Sole

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?

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?

which of the following people is most likely to succeed as as sole proprietor? someone who likes to make his or her own decisions. what… Read More »Which Of The Following People Is Most Likely To Succeed As A Sole Proprietor?

Unlike corporations or LLCs, you don’t have to register with the state. However, you must acquire appropriate permits and licenses to operate legally, and you… Read More »Do You Have To Register As A Sole Proprietor?

Here’s how to start a sole proprietorship in seven steps: Decide on a Business Name. Register Your Business DBA Name. Buy and Register a Domain… Read More »How Do You Form A Sole Proprietorship?

For example, McDonalds Corporation and Microsoft Corporations are corporations. A corporation stands in contrast to other business structures such as a limited liability company, partnership,… Read More »Is Microsoft A Sole Proprietorship?

Business expenses Every business has operating expenses, and a sole proprietorship is no different. As long as your expenses are “ordinary and necessary,” in the… Read More »Can You Claim Business Expenses As A Sole Proprietor?

Which of the following is FALSE regarding a sole proprietorship? A sole proprietor is not personally liable for obligations of the business. This is False… Read More »Which Of The Following Is False About Sole Proprietorships?

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 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?