Can A Husband And Wife Operate A Business As A Sole Proprietorship Or Do They Need To Be A Partnership?

A husband and wife may operate a business as a sole proprietorship. However, they may choose to operate as a general partnership if they prefer.

With a partnership, the formal terms of the partnership are usually contained in a written partnership agreement. That is not typically the case with a sole proprietorship. You should contact an attorney, accountant or financial advisor to determine which form is most suitable for your business.

Nicole M. Bolan, Attorney at Law
Blado Kiger Bolan, Tacoma, Wash.

Related Posts
  • Is Your Company GDPR Compliant? Read More
  • Why You Should Avoid A 50/50 Partnership Read More
  • How Might Your Business Be Impacted By The 2018 Tax Law Changes? Read More