A sole proprietorship is an unlimited liability company. Legally, the business and the owner are one and the same, so the debts of the business… Read More »Is Sole Proprietorship Limited Or Unlimited Life?
Unlike other businesses that can be passed down from generation to generation or continue to exist long after the passage of its original board of… Read More »Does Sole Proprietorship Have Limited Life?
If Both Spouses Are Owners Your options are: Partnership, with each spouse having a partnership share. Limited Liability Company (LLC), with each spouse having a… Read More »What Is The Best Business Type For A Married Couple?
This is perfectly legal, but if your LLC hires your spouse, they will be under the same state and federal employee laws as anyone else… Read More »Can I Add My Wife To My Business?
Sole proprietorships are attractive for small business owners because of its straight forward process. Here, the proprietor becomes personally accountable for any losses or money… Read More »Why Sole Proprietorship Is The Best Form Of Business In India?
Working For Free No matter how menial the work, it’s not legal to have someone to work for free or delay her pay. However, in… Read More »Can I Work For My Spouse For Free?
“Yes, you can pay your spouse a salary and should be doing so,” explains James Abbott, owner and head of tax at contractor accountant Abbott… Read More »Can I Pay My Partner A Wage?
But the truth is your business’ structure doesn’t matter. Sole traders, partnerships, companies and even trusts can pay spouses a regular wage for services such… Read More »Can I Pay My Wife To Do My Bookkeeping?
As a sole proprietor, you can hire your spouse to be an employee. But, your spouse must be a legitimate employee. Don’t try to sneak… Read More »Can I Work For My Self Employed Husband?
Answer and Explanation: It is correct that b) the owner of a sole proprietorship is personally responsible for all the company’s debts. Which of the… Read More »Which One Of The Following Statements Concerning Sole Proprietorships Is Correct?