Sole Proprietorships
If you are a sole proprietor, your personal tax return is your business
return. If you risk substantial business liability,
consider some form of incorporation, LLC, or LLP to protect your
personal assets.
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If
you are a sole proprietor, you may want to
consider an LLC. Single owner LLCs are
not tax-paying entities. The business
shows up on your personal return as it has in
the past, but you have the limited liability
protection of the
LLC entity. |
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