Business Start Up Help: 3 Reasons to Pick a Sole Proprietorship

If you are trying to decide whether to start your business as a sole proprietorship, getting business start up help could be beneficial to you. Here are a few reasons to pick a sole proprietorship.

1 - Taxes

When you start a sole proprietorship, you are going to be able to take advantage of a simple tax situation. You are not going to have to file separate business taxes as you would if you started some type of corporation. You are simply going to file all of the taxes as they are personal taxes.

2 - Simple Formation

With a sole proprietorship, you are going to be able to form your business very easily. You are not going to have to fill out complicated documents or hire a lawyer as you would with some type of corporation. This makes it much more simple to get started.

3 - Avoid Bureaucracy

Corporations are closely regulated by the government and have strict accounting standards that they have to abide by. The profit from corporations is also taxed twice. With a sole proprietorship, you are not going to have to worry about any of this. The profit is only going to be taxed once and you will not have to do with a lot of complicated accounting.

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