The Pros and Cons of Being a Sole Proprietor

The Pros and Cons of Being a Sole Proprietor

Are you freelancing, running a consulting or side business, or launching a startup? If you're self-employed, you’ll need to tackle your business structure at one time or another, and that decision can influence how you pay taxes, what happens if you get sued and how much paperwork you have to deal with

See also: 7 Questions to Ask Before Starting a Business in 2014

By default, your self-employed business operates as a sole proprietorship until you select a different structure. As the simplest way to operate a business, the sole proprietorship has its unique benefits and drawbacks. Read more...

The Pros

Simplicity

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