Introduction:

• Introduce the business entity as a sole proprietorship, including its name and main purpose.

Business Owner Information:

• Provide the full legal name, address, and contact information of the sole proprietor.
• Specify any relevant identification numbers, such as Social Security Number (SSN) or Tax Identification Number (TIN).

Business Description:

• Describe the nature of the business and its core activities.
• Explain the products or services offered by the sole proprietorship.

Business Location:

• Detail the address of the business location.
• If the business operates from the proprietor’s home, specify the home address.

Business Hours:

• Provide the regular operating hours of the business, including opening and closing times.

Business Activities:

• Outline the specific services or products offered by the business.
• Highlight any unique selling points or specializations.

Licensing and Permits:

• Mention any licenses or permits required to operate the business legally.
• Provide details about the process of obtaining these licenses.

Business Bank Account:

• Explain the importance of maintaining a separate business bank account.
• Advise the sole proprietor to open a business account to keep business and personal finances separate.

Financial Management:

• Highlight the responsibility of the sole proprietor for managing the business’s finances.
• Mention the need to track income, expenses, and maintain proper financial records.

Tax Obligations:

• Explain the tax obligations of the sole proprietorship.
• Detail the requirement to report business income on personal tax returns and pay any applicable taxes.