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Should You Designate Your Business as a Sole Proprietorship?

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  Is a sole proprietorship right for you? Learn more about this business structure. A sole proprietorship is a business that is owned and operated by a single person, with no legal separation between the owner and their business. Though a sole proprietorship is simpler than other business structures, it comes with some major drawbacks. Earnings from a sole proprietorship are taxed along with the business owner's personal taxes. This article is for entrepreneurs who are considering setting up their business as a sole proprietorship. At the start of your small business journey, you need to determine your business's legal structure before registering it, since your business structure will affect everything from how you pay taxes to the amount of liability you take on. Some structures are more complex than others, but if you're looking to strike out as the only person responsible for your business, then a sole proprietorship may be the best-suited structure for you.  Merchant C