A Sole Proprietorship is an unincorporated business owned by one individual. The owner has complete control over the business decisions. This tax structure is straightforward usually with no legal entity formed. In most cases, Single Member LLC’s are taxed as a sole proprietorship by default. A sole proprietorship does not file its own separate tax return. Instead, the profits or losses of the business are reported on the owner’s personal tax return.

Business Activities:

• Independent Contractors (1099-NEC)

• E-Commerce / Retail

• Rental Income

• Freelance

• Personal Trainers / Fitness Instructors

• Event Planners

• Consultants

• Photographers

• Tutors / Educators

• Crafts / Artisans

• Other Side Gigs w/ no legal entity