Which of these is an advantage of sole proprietorship?
A) Unique tax advantages
B) Longer life because the business and owner are legally the same
C) Owner's liability for the firm's debt limited to his or her investment in it
D) Ease of raising large amounts of capital

Question

Quizplus · Accepted Answer

Sole proprietorships offer unique tax advantages because the income of the business is treated as the personal income of the owner, allowing for a simpler tax filing process. Unlike corporations, sole proprietors can directly deduct business losses from their personal income, potentially lowering their overall tax liability.

Which of These Is an Advantage of Sole Proprietorship