Sole Proprietorship Taxes
Sole proprietorships are one of the most common organizational structures used by entrepreneurs. Starting and maintaining a sole proprietorship is easy and low cost, which is why so many people choose to do business this way. There are however some downsides to conducting business as a sole proprietor, the most significant of which is that you have unlimited personal liability for matters arising in your business. Depending on what you do, a sole proprietorship may be the perfect business structure for you, however, before you choose to become a sole proprietor you should understand the pros and cons of doing so and compare its features to those of other organizational structures.