Sole proprietorship

A sole proprietorship is an unincorporated business owned by only one person.

The owners of a sole proprietorship are entitled to keep all the profits of a business, but are also legally liable for anything that pertains to the business. The income of a sole proprietorship is recorded on the owner’s individual tax return.

https://accounting.uworld.com/cpa-review/lc/accounting-dictionary/term/sole-proprietorship/