A sole proprietorship is a type of business that is owned and operated by a single individual. It is the simplest and most common form of business structure, and is often used by small businesses or self-employed individuals. In a sole proprietorship, the individual owner has complete control over the business and is personally responsible for its debts and liabilities. The business and the owner are considered to be the same legal entity, and the owner reports the business's profits and losses on their personal tax return.
What is Finanshels?Setting up a good small-business bookkeeping system can be an involved process, especially if you’re not an experienced bookkeeper. Rather than spending enormous time and effort on getting your books up and running, consider turning to Finanshels for help. We’ll set up your bookkeeping system to ensure that your business is starting off right – and we’ll save you a huge amount of stress.Want someone to help you organize your bookkeeping system? Try Finanshels