How much does a sole proprietor pay in taxes 2024?
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Studied at Oxford University, Lives in London. Currently working as a corporate lawyer specializing in mergers and acquisitions.
As a sole proprietor you must report all business income or losses on your personal income tax return; the business itself is not taxed separately. (The IRS calls this --pass-through-- taxation, because business profits pass through the business to be taxed on your personal tax return.)
2023-05-13 00:38:43
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Ethan Davis
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As a sole proprietor you must report all business income or losses on your personal income tax return; the business itself is not taxed separately. (The IRS calls this --pass-through-- taxation, because business profits pass through the business to be taxed on your personal tax return.)