This article has been reviewed by tax expert Erica Gellerman, CPA. Ket highlights: Sole proprietorships are subject to pass-through taxation, meaning the business owner reports income or loss from their business on their personal tax return, but the business itself is not taxed separately. A sole proprietor will submit a Schedule C with their personal 1040…
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The article Sole Proprietorship Taxes: Everything You Need to Know originally appeared on NerdWallet.