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Function of sole proprietor
Sole proprietor
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James C. Penney Founder of J.C Penney, He is a Sole Proprietor.
sole proprietor
Function of sole proprietor
A sole proprietor is a person who owns the business and is personally responsible for it debts.
Sole proprietor
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.
This person is sole proprietor of the building.
theft loss of inventory on sole proprietor. how is it handled on tax return
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A garnishment can be put against a sole proprietor to settle a debt. Despite their working situation, they are still under obligation.
James C. Penney Founder of J.C Penney, He is a Sole Proprietor.
Sam Walton
Sole Proprietor.
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.