What is the difference between an individual and a sole proprietor?

Definition of a sole proprietor The IRS defines a sole proprietor as “someone who owns an unincorporated business by himself or herself.”¬† It is the simplest and most common way to start a business. ¬†Completing a Schedule C with your 1040 tax form showing that you have business activity is about the only thing that … Continue reading What is the difference between an individual and a sole proprietor?