Corporation: An entrepreneur is a person who opens and manages his or her own business.
A business is an activity that makes a living or makes money by manufacturing or buying and selling products (such as goods or services). It also means that “the activity or enterprise carried out for profit is the owner and the owner of the enterprise is responsible and liable for the debts of the enterprise.
If the company acquires the debt, creditors can trace the personal belongings of the owner. The corporate structure does not allow corporate tax rates and the owner is personally taxed on all income from the company.
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