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Proprietor
(redirected from proprietorships)

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
Sole Proprietor
The one and only owner of an unincorporated business. That is, the business of a sole proprietor is not a corporation, a limited liability company, or anything else. The sole proprietor must list all profits and losses on his/her personal tax return and does not file a separate return for the business. Additionally, the sole proprietor is personally responsible for all losses and debts the business incurs. Some small businesses begin as sole proprietorships and then become something else. Other sole proprietorships are part-time businesses that the owners operate on the side.

proprietor
The owner of a one-person business.

Proprietor
The sole owner of a trade or business.


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Sole Proprietorships The vast majority of small businesses start out as sole proprietorships.
Sole proprietorships are issued Federal Business Numbers by the federal government.
The book explains the tax implications of corporations, LLCs, partnerships, and sole proprietorships, shows how to reduce taxes through tax deductions and strategic money management, and outlines transition strategies for selling or closing a business.
 
 
 
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