#sole-proprietorship
Sole proprietorship accounting, tax filing, and financial management essentials
Poland's sole proprietors must pick between ryczałt (2–17% on revenue), skala podatkowa (12%/32% on income), and podatek liniowy (flat 19%) by February 20, 2026. This guide compares the 2026 rules — including the health contribution jump to a 100% minimum-wage assessment base — and shows which regime fits low-expense freelancers versus high-cost contractors.
Form T2125 turns a Canadian sole proprietor's invoices and receipts into taxable net business income on the T1 return. For 2026, gig platforms report earnings directly to the CRA, self-employed CPP totals nearly $9,300 at the earnings ceiling, and the June 15 filing extension still leaves payment due April 30.
Irish sole traders filing Form 11 in 2026 face a mid-year PRSI Class S rise from 4.2% to 4.35% on October 1, a €650 minimum PRSI charge, and the preliminary tax rule requiring 100% of prior-year or 90% of current-year liability by October 31 — with a ROS extension to mid-November for those who file and pay online.
Australian sole traders who invoice without an ABN lose 47% of each payment to mandatory withholding. This guide covers free same-day ABN registration, the $75,000 rolling 12-month GST threshold, quarterly BAS due dates, individual marginal tax rates for 2026-27, deductible super contributions, and the ATO's five-year record-keeping rule.
A Swiss freelancer's tax bill stacks federal (up to 11.5%), cantonal, and communal layers — roughly CHF 15,000–18,000 on CHF 100,000 of profit in Zug versus about CHF 28,000 in Geneva. This guide covers AHV self-employed status (three criteria, ~10% of net profit, CHF 2,300 registration threshold), the CHF 100,000 VAT and Commercial Register line, 8.1% standard VAT, Pillar 3a deductions up to CHF 36,288, and when a GmbH beats a sole proprietorship.
Mixing personal and business money in one account can void your LLC's liability shield, get legitimate deductions disallowed for lack of substantiation under IRC Section 162, and turn a routine audit into a full transaction pull. Here's what commingling looks like, why courts and the IRS punish it, and a five-step cleanup plan.
A 2026 bookkeeping guide for personal and private chefs covering ASC 606 principal-vs-agent grocery treatment, the 72.5¢ standard mileage rate, Section 179 equipment, cottage food law constraints, and quarterly estimated tax safe harbors for Schedule C filers.
Section 162(l) lets sole proprietors, partners, and more-than-2% S-corp shareholders deduct 100% of medical, dental, vision, and long-term care premiums above the line on Schedule 1, Line 17—if they clear the earned-income cap, the spouse-employer rule, and the W-2 reporting choreography on Form 7206.
Section 162(l) lets self-employed taxpayers deduct 100% of medical, dental, vision, Medicare, and long-term care premiums above the line via Form 7206.
A 2026 guide for family business owners on legally hiring their children: how a sole proprietorship can pay a child up to $16,100 federal-tax-free, when FICA and FUTA exemptions apply, the documentation the IRS expects, and how a Roth IRA stacks on top.
A step-by-step walkthrough of business tax filing by entity type — Schedule C for sole props, Form 1065 for partnerships, 1120-S for S-corps, and 1120 for C-corps — with 2026 deadlines, document checklists, audit triggers, and when DIY software stops being enough.
A practical 2026 walkthrough of how the IRS taxes sole proprietors — covering Schedule C, the 15.3% self-employment tax on 92.35% of net earnings, quarterly estimated payments, the QBI deduction, and the threshold where an S-Corp election starts paying off.
