When you file taxes as a solo business owner, things are more complicated than those days when you may have a received a W2 from a single employer. However, you’ve also got plenty of opportunities to trim your tax bill.
Considered the simplest business structure, the sole proprietorship is owned and operated by one person, and there’s no legal distinction between the owner and the business. It’s 100% legal for an entrepreneur to operate as a sole proprietor, but that doesn’t necessarily mean you should.
You may not think your company needs extra oversight, but even a small business can benefit from the guidance and structure a board can provide. As long as your board is made up of the right people, the same will hold true for you.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.