Question

Joel operates his business, carson collectibles, by himself. he has made no election with his state regarding his business. what is the most likely form of joel's business?

Answer 1

Joe's business is most likely a type of sole proprietorship. Sole proprietorships are usually ran by one person who accounts for all of the business expenses as part of their personal taxes so there is no difference between personal and business. This form of business also does not need to file any paperwork with the state. The owner just needs a business license.