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    If you start a business and are the sole owner, you are automatically considered a sole proprietor. You have no protection from liability for the debts of the business and you file your taxes on Schedule C of your 1040. Most people understand this, but what happens

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    thinking about issues like taxes, liability and business entities. This can lead to unintended consequences.

    If you start a business and are the sole owner, you are automatically considered a sole proprietor. You have no protection from liability for the debts of the business and you file your taxes on Schedule C of your 1040. Most people understand this, but what happen

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    If you start a business and are the sole owner, you are automatically considered a sole proprietor. You have no protection from liability for the debts of the business and you file your taxes on Schedule C of your 1040. Most people understand this, but what happen

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    idered a sole proprietor. You have no protection from liability for the debts of the business and you file your taxes on Schedule C of your 1040. Most people understand this, but what happen
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    nd you file your taxes on Schedule C of your 1040. Most people understand this, but what happens if there are two owners and no business entity is selected?

    To the surprise of many, a business with two or more owners that does not actively form a business entity is considered a general partnership. A general partnership is generally not an entity that should be used unless you absolutely must. Why? Well, the entity provides no liability protection to the owners. If

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