E&Q Tax - Accounting and Business Solutions

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Is a sole proprietorship right for you?


If you're in business for yourself and you haven't created a formal business structure, then chances are, you're already a sole proprietor–so make sure you understand the implications.

So you're open for business. What next?


A sole proprietorship is simple to start, but that doesn't mean you should let your guard down. A little preparation goes a long way.

DBA


If you're a sole proprietor, the legal name of your business is your own name. In most states, if you want to operate the business under a different name, you'll need to file for a DBA, "doing business as."



Business Licenses


You may need state or local permits and/or licenses to legally operate your business. We can help you figure out the business licenses you need.



Limit your liability


As a sole proprietor, you'll be personally liable for your business's debts and other liabilities. You may want to consider operating as a limited liability company (LLC) instead, so you're better protected.




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