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THEME Liquidating a Sole Proprietorship  Form

THEME Liquidating a Sole Proprietorship Form

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Instructions and help about THEME Liquidating A Sole Proprietorship

this is how it works when you start a side hustle let's say you're a person or an llc that's taxed as a sole proprietor which is the same as 10.99 self-employed or if you just start selling t-shirts on the corner check it out you've had some success your etsy shop made a hundred thousand dollars this is your gross income it cost you about seventy thousand dollars to run your store pay for all your materials all your shipping etc these are your deductions nice you have thirty thousand dollars left over this is your net income now it's time to pay taxes as a sole proprietor or self-employed person you're responsible to pay all of these taxes sometimes the total can be as high as 60 percent this is why we educate ourselves so we can learn the rules and play the game even better let's be good to future you

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