A sole proprietorship is a mode of business arrangement in which the business is owned and managed by one person. The sole proprietor is the only one who arranges for resources like cash, inventories, building, equipment, stores, cars, etc.
In a sole proprietorship, the owner enjoys all the profits and bears all the losses alone. The funds are also arranged by the owner himself and if the business needs additional funding he will borrow for the business and he himself will be responsible for the repayment. In other words, the day-to-day activities of the business are performed by the owner.
Nicole organized a new corporation. The corporation began business on April
Tawana owns and operates a sole proprietorship and has a 40 percent
Hank started a new business in June of last year, Hank’s
Brooke owns a sole proprietorship in which she works as a management
Several years ago, your client, Brooks Robinson, started an
Lonnie Davis has been a general partner in the Highland Partnership for
Ben teaches golf lessons at a country club under a business called
Zhang incorporated her sole proprietorship by transferring inventory, a building,
Ramon incorporated his sole proprietorship by transferring inventory, a building,
Sanjay is a single taxpayer that operates a curry cart on the
