The easiest way to start a one-owner business is through a sole proprietorship. The debts of the sole proprietorship are also the debts of the owner. However, all profits flow … See more

A sole proprietorship is very different from a corporation, a limited liability company (LLC), or a limited liability partnership (LLP), in that no separate legal entity is created. A… See more

A sole proprietorship requires a limited amount of paperwork to get started. The tax process is simpler because an employer identification number (EIN) from the Internal Revenue S… See more

The owner of a sole proprietorship pays personal income tax on profits earned from the business. Sole proprietors report their income and expenses on their tax returns and pay inc… See more