Sole Proprietorship

Author: Vertax Accountants | Feb 21, 2019

Advantages	Disadvantages
You’re the sole owner, make all the decisions & take home all the profits.	The business is reliant solely on you.
You can claim business losses on your personal taxes.	There may be a lack of continuity.
You require minimal working capital & start-up costs are low.	Raising capital is a struggle.
Regulations are limited; making it’s easy to start.	There is unlimited liability.
	It may be harder to sell.
	Taxes will increase as income grows.