sole proprietorship

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Sole proprietorship

A business owned by a single individual. A sole proprietor pays no corporate income tax but has unlimited liability for business debts and obligations.

Sole Proprietorship

A business owned by a single person that is not a corporation, a limited liability company, or anything else. The sole proprietor who owns the proprietorship must list all profits and losses on his/her personal tax return and does not file a separate return for the business. Additionally, the 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 their owners operate on the side.

sole proprietorship

a BUSINESS or firm which is owned and controlled by a single person. See PARTNERSHIP, JOINT-STOCK COMPANY, LIMITED LIABILITY.

sole proprietorship

Ownership of a business by an individual rather than a partnership, corporation,or limited liability company.

References in periodicals archive ?

For example, sole traders and partners of partnerships can make a Gift Aid declaration with their cash donations, which means the charity will receive an extra 25p for every PS1 donated.

Giving back in 2019: How firms can benefit from donating to charity

| Limited company director - Limited companies are slightly more complicated than sole traders and require full company accounts to be drawn up by a qualified accountant.

Mortgage lenders open doors to self-employed

Like a sole trader business, a general partnership is not a separate legal entity from the business and as such, the partners are jointly and severally liable for the business (in other words each partner could be held individually liable for the debt of the entire partnership (except for the other partners' personal tax liabilities).

Sole trader, partnership, LLP or limited company? - sponsored section; Deloitte offer advice on choosing a structure for your business - sponsored section

Perfect for sole traders, online trainers and studios.

Kickstart Your Personal Training Business

The report found 36 per cent of female sole traders and women running micro-businesses felt pressured to stay connected to technology all the time for fear of missing out on new opportunities or requests, compared to 26 per cent of men.

Sending emails at 6am.. I needed to get a life; Clare Graham isn't alone among a generation of work-at-home mums who find they just can't switch off

A sole trader needs to lodge an individual tax return including income from all sources.

Law report

If you run a business as a sole trader, in partnership or as a limited company, it is imperative to consider what might happen to the business if you become incapacitated by illness or injury.

Safeguard your business from injury or illness; agri advisor Awel Mai Hughes

Q I was thinking of converting my sole trader business into a company, but understand this may no longer be tax efficient.

Asktheexperts; Sole trader or limited firm?

But the venture only really took off when Ian, who previously ran the business as a sole trader, registered it as a limited company.

Change of direction

For our sixth annual celebration of innovation we have extended the categories to seven, including the new Best Sole Trader gong.

Your chance to be a winner with the ECHO

It occupies a whopping four acres and holds a range of vans to meet the business needs of everyone from the sole trader one-man, one-van operation to multi-fleet customers.