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Money

Tax and accounting photo with calculator

Building a sound structure (access required)

When Daniel Gibson was growing up, his dad owned and ran a string of gas-service stations. “All of them were structured as a sole proprietorship,” he said. “When I think about it now, I shudder.” Gibson is a tax partner with the audit, accounting, advisory, consulting, and tax services firm EisnerAmper and he knows that a sole proprietorship offers an owner almost no liability protection. “My dad thought his insurance coverage would be enough protection, but that’s not always the case.”

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