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| Establishing Your Sole Proprietorship |
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| Summary: |
| Advantages and disadvantages should be highly considered when deciding how to establish your home based business. Sole Proprietorship are usually one of the easiest ways to establish your business.... |
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| Article Snippet (in-tact): |
| against your personal assets, so it is wise to make smart choices since you are the only one running your business, it is you who has unlimited liability and total responsibility, this is a huge disadvantage.
The plus side of a sole proprietorship is you are in complete control of your business and have freedom from taxes and government regulations.
Sole proprietorships do not file income tax returns, you will be responsible for paying personal income taxes on all profits made and will be required to pay self-employment tax in addition to income taxes.
The next step is to find a suitable n |
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