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In Iowa, sole proprietorships are more or less the “basis” format for a business. Sole proprietorships aren’t a legal business entity. It is considered one and the same from the person operating the entity. Because there is no difference between the individual and the business, sole proprietors do not need to file business tax returns. The business’s profits or loses will be on their personal tax returns. As for liability, because there is no difference between you and the business, you are liable for anything the business is, whether it be a contract you make on behalf of the business or any litigation against the business.
November 20, 2024
In this article, we discuss how long businesses in Iowa should keep their records and answer the following questions: Does my business need to keep every document?, How long does my business have to keep each record type?, and What are the consequences of not retaining records for the required amount of time?
September 5, 2024
In this article, we discuss these laws, called dram shop and social host liabilities, and cover questions including:
September 5, 2024
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