What is a sole proprietor? A sole proprietor is a person who runs an unincorporated business with a single owner. No legal distinction is made between you and the business. That means you are personally responsible for all aspects of the venture, including business debts, losses, and liabilitie...
Individuals exploring what is a sole proprietor and whether this is the best option should be aware that a business owner who operates without forming a separate legal entity becomes personally responsible for the business’s assets, liabilities, and profits. That means that while they are entitled...
When a sole proprietor seeks to incorporate a business, theowner usually restructures it into an LLC. For this to work, the owner must first determine that the company name is available. If the desired name is free,articles of organizationmust be filed with the state office where the busines...
What is a trade name for a business? What is the simplest form of business? What are the benefits of an LLC vs. a sole proprietorship? Which type of business organization is owned by only one? owner? What is an abstract of title in business?
What is a 1099-K used for? What do I do with it? If you receive a 1099-K form, it generally includes the gross amount of all the reportable payment transactions from the platform (payment settlement entity) . The platform or app you used will send two copies of your 1099-K informatio...
Different types of joint mortgage When entering into a joint mortgage with others, you need to decide the legal basis on which you will each own the home. This is important to establish what would happen to the property if someone who is part of the joint partnership dies or your relationsh...
seeking the CEO title the necessary leadership skills. Serving as a manager, director or otherC-levelposition overseeing large units or operations of a company is a critical step. In the case of small businesses, a founder or co-founder might eventually be named CEO as the business grows ...
A tax lien is a claim imposed by law upon property or other assets to ensure the payment of taxes. Here's what you should know.
Small business owners and self-employed individuals can use a Schedule C form to report profits or losses from a business. When you file your taxes, you can attach Schedule C to your regular 1040 form. If you recently became self-employed or started a bu
Some people consider choosing a product or niche based on your own personal passion to be a recipe for disaster. However, that’s not always the case, and can actually prove to be extremely profitable. One of the biggest benefits to building a business around your passion is having the tena...