Lawkidunya Banner

Is Sole Proprietorship Taxable Income – Lawkidunya

As per Lawkidunya, as a sole proprietor you must report all business income or losses on your personal income tax return; the business itself is not taxed separately. (The IRS calls this “pass-through” taxation, because business profits pass through the business to be taxed on your personal tax return.)

Leave a Reply

Your email address will not be published. Required fields are marked *