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obrt: ≈ sole proprietorship; several types: slobodni obrt (free proprietorship), vezani obrt (tied proprietorship), and povlašteni obrt (privileged proprietorship) registered according to profession where tied and privileged types are reserved only for master craftsmen): paušalni obrt (flat-rate proprietorship), obrt-dohodaš (income tax ...
A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. [1] A sole trader does not necessarily work alone and may employ other people. [2]
According to "The Family Business Review", "there are approximately seventeen million sole-proprietorship in the US. It can be argued that a sole-proprietorship (an unincorporated business owned by a single person) is a type of family business" and "there are twenty-two million small businesses (fewer than five hundred employees) in the US and ...
Heads up to anyone who is a freelancer, independent contractor, business owner, property renter or just a hobbyist who occasionally sells their creations: If you accept business-related income ...
In fact, there is an additional Medicare tax rate of 0.9% when a self-employed individual earns above $200,000 (single). Generally, only 92.35% of the self-employment income is taxable at the above rates. Additionally, half of the self-employment tax, i.e., the employer-equivalent portion, is allowed as a deduction against income.
All assets of the business belong to a sole proprietor, including, for example, a computer infrastructure, any inventory, manufacturing equipment, or retail fixtures, as well as any real property owned by the sole proprietor. [7] A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited ...
A Solo 401(k) Plan can be adopted by any self-employed business, including a sole proprietorship, limited liability company, partnership, C-Corporation, S-Corporation, etc. The business adopting the Solo 401(k) Plan must also not employ any full-time employees that are eligible to participate in the plan, other than the business partners and ...
The list focuses on the main types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance tax. Personal income tax includes all applicable taxes, including all unvested social security contributions.
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