Did you know that Sole Proprietors and Partnerships are among the oldest forms of business on earth? The draw of this form has attracted people since the first smith hung his sign outside his shop in medieval England or the first African started breeding cattle on the savanna. The reason for this is its simplicity to set up and run. In short, the Sole Proprietor or Sole Trader or Partner IS the business and the business IS them. You cannot separate the two. They are the multiple personalities of the business world. This form of business has various pros and cons, which a short Google search would unearth for you, so we won’t rehash these. We will focus solely on the tax implications and how we can help you navigate these pitfalls.
Author: Brandon Allen
I'm a business Accountant in practice. Nothing fancy about me, but occasionally I have a flash of inspiration you might find useful. My blood is also 50% coffee.
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