If you simply want to go in ____ for yourself as a self-publisher, the ____ trader is the ____ and easiest ____ to set up. You ____ everything about the business, you can use your own ____ File Number (TFN) for taxes, and you don't have to worry about ____ taxes and ____ compensation. It's easy to ____ the business or ____ up shop when you need to. The sole trader structure is a ____ one. People choose to setup shop this way because the structure is so ____-____ and control is completely in the ____ hands. Taxes are usually a ____ also: you pay the ____ rate (not the corporate rate!), and you can claim several ____ on your taxes (vehicle expense, home office expenses, travel, machinery, etc.). And even though you run the business by yourself, you still are a business and can become a member of small business organizations; this gives your business a little bit larger ____ in community and/or business affairs. However, there are some ____. You have ____ liability, meaning you can risk ____ your personal ____ if things go sideways. While the tax ____ are great, you still can't parse out business from personal since you are ____ for everything. There is no ____ profits or losses with anyone. Finally, ____ the business usually requires your own personal assets or small business ____. It is hard to get others to ____ in your business. You need to ____ finances carefully to ensure you are making enough from your business since ____ will eat into your own personal assets. If going solo is not for you, perhaps the partnership is an option.

9 Business Sole Trader

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