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  2. Loan-out corporation - Wikipedia

    en.wikipedia.org/wiki/Loan-out_corporation

    The creator of the corporation is typically the sole shareholder, [1] and thus the corporation is used as a means to reduce their personal liability, protect their assets and exploit taxation advantages. Loan-Out corporations are especially prominent in the entertainment and professional sports industries, as the creator's services are ...

  3. Sole proprietorship - Wikipedia

    en.wikipedia.org/wiki/Sole_proprietorship

    A permitted exception to the sole proprietor (single owner) stipulation is made by the Internal Revenue Service (IRS) permitting the spouse of a sole proprietor to work for the business. They are not classified as partners in the enterprise, or an independent contractor , enabling the business to retain its sole proprietorship status and not be ...

  4. Chapter 11, Title 11, United States Code - Wikipedia

    en.wikipedia.org/wiki/Chapter_11,_Title_11...

    Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]

  5. Self-employment - Wikipedia

    en.wikipedia.org/wiki/Self-employment

    Self-employed people are usually classified as a sole proprietor (or sole trader), independent contractor, or as a member of a partnership. Self-employed people generally find their own work rather than being provided with work by an employer and instead earn income from a profession, a trade, or a business that they operate.

  6. Sole trader insolvency - Wikipedia

    en.wikipedia.org/wiki/Sole_Trader_Insolvency

    According to Business Link there are a number of factors that can lead to sole trader insolvency. These can include late invoicing for goods or services, accepting orders that exceed its financial capacity to deliver, failure to recover debts, excess inventory and unsuitable credit arrangements and often personal drawings taken in excess of profit.

  7. Advisors Should Understand These 2023 Tax Changes Now - AOL

    www.aol.com/finance/advisors-understand-2023-tax...

    The QBI deduction allows qualifying taxpayers to deduct 20% of their business income if they work as a pass-through business, sole proprietorship or other similarly situated tax entity

  8. Corporate law - Wikipedia

    en.wikipedia.org/wiki/Corporate_law

    Sole proprietorship; Privately held company; The proprietary limited company is a statutory business form in several countries, including Australia. Many countries have forms of business entity unique to that country, although there are equivalents elsewhere.

  9. List of legal entity types by country - Wikipedia

    en.wikipedia.org/wiki/List_of_legal_entity_types...

    There are three main forms of business: (a) Sole Proprietorship (b) Partnership (c) Company Sole Proprietorship; In a sole proprietorship, an individual on his/her own account carries out the business or profession. No formal procedure or formality is required for setting up a sole proprietary concern. Partnership