Tag Archives: Sole proprietorship

Sole Proprietorship vs. Corporation (Part II) – Legal Aspects

Legally and practically as sole proprietor there is no separation between the sole proprietorship business organisation and the individual. In this form of organisation, the sole proprietor gets all the benefits, and all the burden of the business. And this means the following: –          As a sole proprietor you cannot be an employee of the business

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Sole proprietorship or Corporation? (Part I)

I was asked this question many times. What is the best form to do business? The answer is that there are advantages and disadvantages of both: 1. Sole proprietorship is taxed at the personal level. This means that all your income is added together with your net income (profit) from sole proprietorship and taxed for the corresponding

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