A sole merchant is a personal running a business. It’s the only and most cost-effective business structure. You the sole owner and you management and manage the business. You’re wrongfully to blame for all aspects of the business. Debts and losses can’t be shared with different people.
As a sole merchant, you have got the subsequent rights and obligations:
As a sole merchant you can’t claim deductions for cash ‘drawn’ from the business. Amounts taken from the business don’t seem to be wages for tax functions, notwithstanding you think that of them as wages.
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