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22/2/2021 0 Comments February 22nd, 2021𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗙𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗧𝘆𝗽𝗲𝘀  𝗦𝗼𝗹𝗲 𝗣𝗿𝗼𝗽𝗿𝗶𝗲𝘁𝗼𝗿𝘀𝗵𝗶𝗽
If you are a Sole Proprietor, then you and the business may be considered one in the same, which means you are fully responsible for all debts and any obligations pertaining to your business. As the sole owner, any profits made are entirely yours. However, as you are personally liable, any creditor can make a claim against business – and personal – assets in order to collect any debts. So, if you have a business and a home and your business is sued, your personal assets are also at risk. Furthermore, if you are operating under a sole proprietorship and want to use a business name, you will need to register it.
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AuthorYoel “Mo” Molina, I am a lifelong resident of Miami, Fl. I am a graduate of Miami Senior High, Class of 1992, Georgia Institute of Technology, B.S. 1997 and University of Maine School of Law, J.D. 2001. I have been practicing law in Miami Since 2001. I am a former training prosecutor in the Miami-Dade State Attorney’s Office. I have experience in jury trials, appeals, and administrative hearings. I have appeared before judges across the State. My experience ranges from civil litigation matters, collection matters, foreclosure, business and corporate, contracts, real estate, leases and employment matters.. Archives
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