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Sole proprietorship

• A business owned by one person and operated for his or her own profit.

• A business owned by a single individual. The sole proprietorship pays no corporate income tax but has unlimited liability for business debts and obligations.

 
 Embedded terms in definition
 Income
Liability
Limited liability
Profit
Unlimited liability

<< Sold put Solvency >>

Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

Give the people not hell, but hope and courage. - John Murray

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