Washington Financial Statement Sole Proprietors and Individuals are individuals who own and operate a business by themselves. They have complete control over the business and are solely responsible for all of its debts and obligations. These individuals typically file their tax returns as self-employed individuals on a Schedule C form. They may also need to file a Washington Business and Occupation (B&O) Tax Return, depending on the nature of their business. Types of Washington Financial Statement Sole Proprietors and Individuals include: • Sole Proprietors with Employees: These are individuals who own and operate a business by themselves and employ other individuals to work in their business. • Sole Proprietors without Employees: These are individuals who own and operate a business by themselves and do not employ any other individuals to work in their business. • Independent Contractors: These are individuals who provide a service for a business or organization and are considered self-employed. • Partnerships: These are entities formed between two or more individuals who share in the ownership and operation of a business.