Income and losses are taxed on the individual's personal income tax return. The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is ...

For that reason, it is usually more advisable to start a business as a corporation or LLC rather than as a sole proprietorship. All responsibilities and business decisions fall on the shoulders of ...

If you work for your own, the two most common legal entities are sole proprietorship and single-member S-Corp. There are some benefits of forming an S-Corp such as limited liability or savings on self ...