Recent Articles

How is a Sole Proprietorship Taxed?

The sole proprietorship is taxed at the individual tax level. Basically, the income earned during the calendar year is calculated on Schedule C of Form 1040. The final number is transferred to the front page of Form 1040 to line 12.

The Sole Proprietorship – The Basics

12/30/2012

Of the four business entity types, the sole proprietorship is by far the most flexible and easiest to manage.  There are very few drawbacks.  In the world of business, the key is to maximize profit with the least amount of risk.  Each of these [...]

Self-Employment Tax: You Can Stop Staring At Me Now!

11/28/2012

I was in the attic once hunting down a noise, of course it was at night and I don’t have any lights in the attic to assist me.  So, I grabbed my son’s Boy Scout Flashlight that mounts on your forehead and headed up to find a raccoon staring at [...]