Ford is the sole proprietor of Go, a game app subscription service. As a sole proprietor, on the business's profits, Ford pays

Name: Ford is the sole proprietor of Go, a game app subscription service. As a sole proprietor, on the business's profits, Ford pays
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Question

Ford is the sole proprietor of Go, a game app subscription service. As a sole proprietor, on the business's profits, Ford pays​

Quizplus · Accepted Answer

As a sole proprietor, Ford is required to report the income from Go on his personal income tax return. Sole proprietorships do not pay separate business income taxes; instead, the owner pays personal income taxes on the business's profits.

Ford Is the Sole Proprietor of Go, a Game App