United States
Staffed with 100% US Employees

Start Small

May 10, 2017 by OSYB Staff

When starting your small business, the best way to operate is as a sole proprietorship, if you are on your own, and a general partnership if you are in business with others.  This simple business structure provides you with an opportunity to explore your business plan and simplifies your tax obligation which will be reported on your and your partners’ personal tax returns.  You can benefit from quite a few tax write-offs but make sure you set aside money regularly to pay your taxes.  As your business grows, it’s important to know when to switch to a corporation or LLC.

See what intuit quickbooks recommends:   Why Nearly Every Business Should Start as a Sole Proprietorship or General Partnership

Related Posts