(303) 268-3991

Law Offices of E. Christopher Lang P.C.  

Sole Proprietorship

This Page is dedicated to allowing people a convenient low cost alternative for:
Setting up a Sole Proprietorship
in the Denver of Colorado and All Surrounding Areas.

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No Obligation Consultation!
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Tired of Working for Someone else?
Want to
Start your Own Sole Proprietorship Business in Denver, Colorado but Don't know where to Start? At the Law Offices of E. Christopher Lang P.C. we have a low cost fee of helping you get your new business all set up and ready to go!
Sole Proprietorship

Well, The sole proprietorship is a one person business entity. It is the easiest entity to form. There is no need to file any documentation with the Secretary of State. It is desirable to file a Colorado Business Registration from with the Colorado Department of Revenue. It is advisable that you open a business bank account to be used exclusively by the business and that you keep a general ledger of the business’s transactions.

The sole proprietorship income will be reflected on your 1040 tax return under schedule C. I recommend before starting your new business that you obtain a copy of schedule C to see the deductible expenses that the Internal Revenue Service allows. All income made by the sole proprietorship will be subject to a self employment tax which is slightly over 15%.

While the greatest advantage of the sole proprietorship is its ease to set up; the largest drawback is that it provides no liability protection. If the sole proprietorship were to lose a lawsuit the plaintiff may collect from all of you assets including but not limited to your home, bank accounts, automobiles and investments.

Entities that We Specialize In:
Not Quite What you're Looking For?
If a Sole Proprietorship isn't quite what you're looking for, please see the other entities that we offer that might suite you better. Click on each one for more information.

 Limited Liability Company
"S" Corporation
 Sole Proprietorship
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