Tag Archives: Sole proprietorship

Sole Proprietor

Today TaxMama hears from Kathy in Florida who tells us. “My husband currently works “under the table”. We declare his total income and are subsequently hit every year with owed taxes. Would it behoove us to make him a sole proprietor of his own yacht cleaning business? Would we be saving on taxes, or would […]

Switching Entities

Today TaxMama hears from Kathy in Minnesota who wants to know. “What is the form to elect to change business form? For instance to change from a partnership to a sole proprietor?”