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Sole Proprietorship

We've taken the struggle out of forming your entity and incorporating your business.

A sole proprietorship is often a business venture that is owned by a single individual.  

Pros

  • Easy to form and maintain

  • Complete control and flexibility

  • The owner receives all the profits after tax

  • Tax filing is simple

  • No corporate formalities such as minutes, meetings, bylaws, etc. 

Cons

  • The owner is personally accountable for all of the business’s liabilities and debts

  • General lack of continuity. Business longevity relies on the owner’s lifespan

  • Requires the owner to perform most of the duties

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