The business owner, also known as a proprietor or a trader, conducts business using their legal name. They may also choose to do business using… Read More »What Is The Owner Of A Sole Proprietorship Called?
You cannot form a sole proprietorship with any other person, spouse or otherwise. By definition, a sole proprietorship can have only one owner. As soon… Read More »Can Sole Proprietorship Have 2 Owners?
Yes, a sole proprietorship can have a beneficiary. This is because sole proprietors are normal people who can die, and the funds in their accounts… Read More »Can A Sole Proprietor Have A Beneficiary?
If the person who has died was a sole trader, any assets of the business will be assets in the estate and any business debts… Read More »What Happens To Debts When A Sole Trader Dies?
A sole proprietorship cannot be transferred from one owner to another. This is because the owner is identified through his/her enterprise and is financially liable… Read More »Can A Sole Proprietorship Be Transferred To Someone Else?
As a sole proprietor, you’ll have to take responsibility for withholding and paying all income taxes, something an employer would normally do for you. So,… Read More »What Are The Legal Responsibilities Of A Sole Proprietorship?
The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply… Read More »Does A Sole Proprietor Own The Entire Business?
A sole proprietorship business dies with the proprietor and cannot simply be left to someone else. Assuming your will specifying your wishes for the sales… Read More »Can A Spouse Inherit A Sole Proprietorship?
Go to the courthouse in the county where the deceased lived at the time of his death and open the estate. To settle everything up,… Read More »How Do You Close A Sole Proprietorship After Death?
Upon the death of a sole proprietor, assets may be transferred together with the estate of the owner. The estate is composed of property such… Read More »How Do You Transfer A Sole Proprietorship After Death?