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Special Report on

Sole Proprietorship Basics

sole proprietorship basics special research report Photo by www.bixbe.com
Before starting a business, it is worthwhile to consult a tax accountant or business attorney. If you are unsure of the best type of legal structure for your business , you may need a professional to help you determine the most advantageous way to set up your business. Every type of business structure offers specific tax advantages and disadvantages. Here are some of the tax and financial benefits to establishing your business as a sole proprietorship: Easier Tax Returns to File: Tax returns for sole proprietorships are the simplest to prepare, are filed on the sole proprietor’s (business owner’s) tax returns. If ...
A standard company balance sheet has three parts: assets, liabilities and ownership equity. The main categories of assets are usually listed first, and typically in order of liquidity . Assets are followed by the liabilities. The difference between the assets and the liabilities is known as equity or the net assets or the net worth or capital of the company and according to the accounting equation , net worth must equal assets minus liabilities. Another way to look at the same equation is that assets equals liabilities plus owner's equity. Looking at the equation in this way shows how assets were financed: either by ...
REVIEWS AND OPINIONS
Sole Proprietorship Basics
Sole proprietorships are so easy to set up and maintain that you may already own one without knowing it. For instance, if you are a freelance photographer or writer, a craftsperson who takes jobs on a contract basis, a salesperson who receives only commissions or an independent contractor who isn’t on an employer’s regular payroll, you are automatically a sole proprietor. However, even though a sole proprietorship is the simplest of business structures, you shouldn’t fall asleep at the wheel. You may have to comply with local registration, license or permit laws to make your business legitimate. And you should ... market research, surveys and trends
start a consulting business
Consultants are superb entrepreneurs, and frequently sole-proprietors. They have a comprehensive grasp of knowledge in a specialized area or field. And they provide that information and the benefits of their expertise, as needed, to their clients, often on a contractual basis. Perhaps you’ve become an acknowledge expert in your field. You may be ready to hang out your own shingle, and start your consulting service business. We’ve grouped the following resources together as a starting point for your research into what it would take to start your own medical billing business. In addition to the free content (such as sample ... market research, surveys and trends

SURVEY RESULTS FOR
SOLE PROPRIETORSHIP BASICS

U.S. sole proprietorships: a gender comparison, 1985-2000 ...
Between 1985 and 2000, female-owned sole proprietorships grew at a faster rate than those owned by men. Their numbers increased at an average annual rate of 4.1 percent compared with just 2.2 percent for male-owned sole proprietorships. The business receipts of these female-owned businesses grew at more than twice the rate of businesses owned by men, and the profits increased at an average annual rate of 6.9 percent compared with a 3.9-percent growth rate for male-owned businesses. Despite this greater growth, for 2000, women sole proprietors comprised a minority, owning 37.4 percent of these businesses. The receipts and net ... industry trends, business articles and survey research
Sole Proprieter - Business Opportunities Weblog
When Cause Haun decided to start a children’s shoe company, her goal was to earn an extra couple hundred dollars a month to help pay for airfare to China. Little did she know that her line of hip, comfortable and affordable shoes would grow rapidly, experiencing 400 percent growth between 2005 and ’06, and create buzz in online mommy chat rooms nationwide. See Kai Run, her Woodinville-based company, creates stylish and comfy shoes that protect the feet of kids 6 months to 3 years old. Haun said she had difficulty finding cool-looking shoes for her own son, Kai, as he began taking his first steps. “At the time, you couldn’t find ... industry trends, business articles and survey research
RELATED NEWS
From unemployed to self-employed
Andrea Martin worked in the mortgage industry for two companies that closed. She saw the writing on the wall and decided to try something new. She bought an existing bar now called Office Lounge and last week opened Bulls restaurant and bar in midtown Sacramento. View Larger While layoffs mean months of job hunting for some, for others a layoff notice provides inspiration to start their own company. “We have a lot of people who are doing that,” said Panda Morgan, director of the Greater Sacramento Small Business Development Center . “They’ve looked and looked and looked and then decided to just start a ... market trends, news research and surveys resources
Types of business ownership
Business organizations differ in structure. Likewise, business firms are often categorized based on the nature of their ownership. Similarly, there are three basic types of business ownership; namely sole proprietorship, partnership and corporation. Sole Proprietorship As the name implies, a sole proprietorship is a business which is owned by an individual entrepreneur. Basically, a sole proprietorship has only one owner who is in charge of the managerial affairs and operations of the business. Thus, sole proprietors enjoy a higher degree of autonomy compared to the other two forms of business ownership. Sole proprietorship is ... market trends, news research and surveys resources

INFORMATION RESOURCES

Research Summary - US SBA--Office of Advocacy--US Sole ...
Sole Proprietorship Basics. A sole proprietorship is an unincorporated business with a single owner--the most common legal form of ... technology research, surveys study and trend statistics
Enroll As Individual Provider - Sole Proprietor Quick Reference
button and the Individual/Sole Proprietor. Enrollment Business Process Wizard displays with the. Status of Add Basic Information Step 1 as Complete ... technology research, surveys study and trend statistics
Basic Business Structures
Basic Business Structures. Sole Proprietor, Joint Operating Agreements and Partnerships. Risk Management. E-489. RM3-21.0 ...
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SOLE PROPRIETORSHIP BASICS
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QUESTIONS AND ANSWERS
What does sole proprietorship mean? - Yahoo! Answers
Corporation: Complete separate entity from people whom start/run it, exists as its own individual, requires reg business name and articles of incorporation. This is the best for liability reasons as your personal assets cannot be touched in the event of a lawsuit There are currently no comments for this question. * You must be logged into Answers to add comments. Sign in or Register . Member since: March 24, 2007 Total points: 5836 (Level 5) Sole = One Proprietorship = Owner Means there is one owner.. Partnership = More than one owner Corporation = Private or publicly held by multiple owners of shares Dictionary could have told ...
Google Answers: Single-member LLC tax filing
Should my single-member Utah LLC file taxes as a corporation or sole proprietorship? The Utah agency in charge of filing as an LLC wants to know before I start whether I will be filing taxes as a sole proprietorship or corporation. From my research, I can tell that I could do either, but not what makes the most sense for my business. I'm a stay-at-home dad, married to an attorney, and will be starting an LLC to do a couple of web projects and some web contract programming. I don't expect to turn a profit for a year or more. I expect to earn $4k-$10k this year doing contract programming. Most of the income ...