Yes you can have as many of both as you want, just make sure the liability of one business will not wipe out all the rest in case of a potential litigation down the road.
Also I would suggest you speak with a accountant about tax liabilities with several different sources of income as you have mentioned.
I also strongly believe this subject should be treated cautiously.
Sole proprietor
sole proprietor
Sole Proprietorship
James C. Penney Founder of J.C Penney, He is a Sole Proprietor.
Sole trader or sole proprietor running a one person business such as a one man or woman plumbing business.
A sole proprietor is a person who owns the business and is personally responsible for it debts.
A sole proprietor is someone who owns there own business. A newspaper stand for example. If you invest your money into your business, then create and run it ALL BY YOUR SELF, then the business is called a sole proprietorship, and you are the sole proprietor.
Sole proprietor
corporation
Sole proprietorship is solely governed by the Proprietor of Proprietress. The day to day affairs of the Company, Bank operations etc. are all conducted by the sole proprietor. The profit or loss of the company is borne by the proprietor only. In this type of business, the work capability,manpower etc. of the proprietor play a pivotal role in directing the business. In capitalistic form of society, sole proprietership business is encouraged to flourish for help in rapid growth.
Sole Proprietor: Owner of that business
The sole proprietor may hire employees. A sole proprietorship tends to have no more than up to twelve to fifteen employees. If the number of employees increases beyond this, the business normally evolves into another form.
If a business is unincorporated and owned by one person, that person is also called a sole proprietor. Shareholders are the owners of businesses of any size that do business in the corporate form. An owner in an LLC is called a member.
Either the sole proprietor or the profit may be reinvested in the business in which case the sole proprietorship.
The advantages to doing business as a sole proprietor include: 1) No formal filing with the state is required for a sole proprietorship, and the sole proprietor need not file separate income tax returns for the business. Instead, he reports the profit or loss on his personal income tax return, so the accounting and bookkeeping requirements are very simple. 2) A sole proprietor does not have to share the decision making process with other owners. He controls the management of the business. 3) A sole proprietor can freely sell his business.
sole proprietor
Sole Proprietorship