1. Advertising
    y u no do it?

    Advertising (learn more)

    Advertise virtually anything here, with CPM banner ads, CPM email ads and CPC contextual links. You can target relevant areas of the site and show ads based on geographical location of the user if you wish.

    Starts at just $1 per CPM or $0.10 per CPC.

Maryland, USA Sole Proprietor laws

Discussion in 'Legal Issues' started by SycamorePond, Nov 22, 2019.

  1. #1
    *Redacted
    SEMrush
     
    Last edited: Mar 16, 2020
    SycamorePond, Nov 22, 2019 IP
    SEMrush
  2. mmerlinn

    mmerlinn Notable Member

    Messages:
    2,535
    Likes Received:
    475
    Best Answers:
    6
    Trophy Points:
    290
    #2
    Your best bet for Maryland laws is to contact your local State of Maryland tax office. Any advice you get here and on most other forums is likely to be WRONG.
     
    mmerlinn, Nov 22, 2019 IP
  3. SycamorePond

    SycamorePond Greenhorn

    Messages:
    12
    Likes Received:
    6
    Best Answers:
    0
    Trophy Points:
    10
    #3
    Thanks
     
    SycamorePond, Nov 22, 2019 IP
  4. jrbiz

    jrbiz Acclaimed Member

    Messages:
    5,086
    Likes Received:
    2,168
    Best Answers:
    2
    Trophy Points:
    570
    #4
    No idea on Maryland laws, but I suspect that they mirror the Federal tax approach. A sole proprietorship means to the IRS that you, personally, are in business. All income that you generate from all activities (employment, business income, product sales, consulting, etc.) are reported on your personal tax forms. You may also list business expenses as deductions. But you need to know which ones are eligible and how to do this. You need a tax accountant to tell you what to do and how to set up your records, etc. Just because it is a sole proprietorship does not mean that it is simple to account for business revenues, expenses, and income. You need expert advice on this.
     
    jrbiz, Dec 3, 2019 IP