A sole proprietorship is a non-incorporated business entirely owned by one person that is run in the hope of obtaining a profit.
A partnership is usually the relationship between persons who conduct a business in common in the hope of obtaining a profit.
When you are filing a sole proprietor or partnership business activities, this information is filed on your personal tax return. You have up until June 15th to file your return along with your spouse, however, be careful if you owe tax as this has to be paid by April 30th.
Our team will make sure all of your deductions are calculated correctly and that you don’t miss out on some expenses. Click here to review some allowable expenses and click here to review the auto and home office schedule. These can also be found on the Tax Return page.