Why a Sole Proprietorship?
A sole proprietorship is still the easiest form to setup. You’re literally looking at a drive to town hall where you fill out a short (generic) piece of paper and pay anywhere from $5 to $75 (depending on where you live, of course). At the most, you may end up paying an additional zoning fee if you’re going to work out of your home. The process of becoming a sole proprietor, front to back, is far simpler. And there are still tax and other benefits to you as the owner. As a sole proprietor, you are your company. The income is your personal income and the debt is your personal debt. You are taxed on your income from that business just as you would any personal income, with the addition of tax advantages. Many small businesses do not expose their owners to great losses or liability claims, making a sole proprietorship an affordable option. Again, this should be discussed with your accountant, lawyer and an insurance agent. Even if you decide to file for a sole proprietorship to get your b
