Because a single proprietorship is not a legal entity, any income generated by the business goes directly on the owner's personal tax return.

Name: Because a single proprietorship is not a legal entity, any income generated by the business goes directly on the owner's personal tax return.
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Question

Quizplus · Accepted Answer

Since the business and the owner are not separate legal entities, the income generated by the business is considered personal income for the owner and must be reported on their personal income tax return.

Because a Single Proprietorship Is Not a Legal Entity, Any