what is the differance between a buisness and a sole owner and just been there?

Answer 1

I'm kind of confused by your question. I can tell you that a sole owner can own a business... but it's a owned solely by that person. The business income (or loss) is shown on a Schedule C on the persons personal income taxes. There are also Corporations. They are considered separate entities for tax purposes and file their own taxes on either an 1120 or 1120s. There are several other types of businesses, but I'll just limit my explanation to those two. As far as "and just been there", I'm really not certain what you mean.