If you are a sole proprietor, your personal tax return is your business return. If you risk substantial business liability, consider some form of incorporation, LLC, or LLP to protect your personal assets.
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If you are a sole proprietor, you may want to consider an LLC. Single owner LLCs are not tax-paying entities. The business shows up on your personal return as it has in the past, but you have the limited liability protection of the LLC entity. |
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