Sole Proprietorship Basics
Sole proprietorships are so easy to set up and maintain that you may already own one without knowing it. For instance, if you are making some side income as a freelance photographer or writer, you are operating a business as a sole proprietor. But to make your business legitimate, you may have to comply with local tax registration, business license, or permit laws. And you should be fiscally responsible about running your business, because you are personally responsible for paying all business debts of a sole proprietorship.
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