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Sole Prop vs. Corp: The First Choice

Before launching your new business, the most foundational decision is choosing your form of business. The either/or dilemma is often between choosing the simplest structure (Sole Proprietorship) vs. a more complex one (Corporation/Partnership) that offers liability protection. A Safe choice is essential.

The most common business forms are the sole proprietorship, partnership, and corporation. This foundational choice determines which income tax return you must file. For instance, sole proprietors file Schedule C (Form 1040). Getting this right first is a Safe choice that determines your tax filing path for years to come.

Download the S3 New Business Compliance Checklist now to confidently address your foundational tax setup: https://www.safesimplesound.com/the-s3-new-business-compliance-checklist/.

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DISCLAIMER: This content is for educational purposes only and should not be considered personalized financial advice. Always consult with a qualified financial professional before making financial decisions.

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Bookkeeping for Solo Entrepreneurs

The Safety-First EIN Strategy

Your Guide to Deductible Expenses

Your Business Needs its Own Bank Account