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Sole Proprietorship

Navigation:  Home > Business Structures> Sole Proprietorship

 

If you are starting a company on your own, you are probably best off going with a sole proprietorship. With a sole proprietorship, you need only two things: a business license, and – unless you are using your own name – a doing business as (fictitious name) statement, which you file with your state. Otherwise, this method requires little or no paperwork and can be conducted swiftly. You don’t have to register your company either. You are, however, personally liable for the companies debts and liabilities. Also, sole proprietorships should only be used if your business is owned by one person. For tax purposes, your sole proprietorship is no different than you – you file your business taxes on your personal tax form.

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