Individual businesses refer to a form of business that carries out business activities in the name of individuals, assumes sole responsibility for their own profits and losses, and independently assumes civil liability. Compared with other forms of enterprise subject, the operation and management of individual businesses are relatively simple and the registration cost is low, but there are also some financial and tax knowledge that need attention.

First, the investors of individual businesses need to bear unlimited joint and several liability. This means that if there is an economic dispute between individual businesses, investors should not only bear the loss of investment principal, but also bear unlimited joint and several liability, which may lead to personal property liability. Therefore, investors should be particularly careful when choosing to invest in individual businesses.

Secondly, individual businesses have no special restrictions on their business scope and can engage in various legal business activities. However, it should be noted that the business scope of individual businesses must be consistent with their registration information, otherwise they will face punishment.

Third, compared with other forms of enterprise entities, individual businesses can use private cards to collect money, which is convenient and fast.

Fourth, according to the latest regulations on promoting the development of self-employed businesses, self-employed businesses can be transferred and sold, but cannot invest abroad. This means that individual businesses can realize the realization of enterprise value by transferring equity or assets, but cannot invest in other enterprises.

Fifth, if the turnover of individual businesses exceeds the standard, it will not be forced to change to a general taxpayer. However, it should be noted that if the turnover of individual businesses exceeds 150000 yuan for two consecutive years or 100000 yuan for a single month, tax registration and payment of relevant taxes are required.

Sixth, compared with business enterprises, self-employed businesses do not need to pay corporate income tax, nor do they need to pay employment security for the disabled. However, it should be noted that individual industrial and commercial households need to pay business tax or value-added tax, and pay social insurance premiums and provident funds according to regulations.

Seventh, the transfer of real estate and land between the owners of self-employed businesses and self-employed businesses is entirely free of deed tax. This means that the owners of individual businesses can transfer their real estate and land to individual businesses without paying deed tax.

Eighth, the wage income obtained by individual businesses only needs to pay individual income tax on production and operation, and does not need to pay individual income tax on wages. However, it should be noted that if there are employees or partners in self-employed businesses, they need to pay income tax on labor remuneration and income tax on service remuneration in accordance with relevant regulations.

In addition to the above eight financial and tax knowledge, self-employed businesses also need to pay attention to the following aspects:

First, self-employed businesses need to comply with relevant laws, regulations and tax policies, pay taxes in time, and conduct tax registration to ensure their legitimate business.

Secondly, individual businesses need to establish a sound financial management system to ensure the authenticity, accuracy and integrity of financial statements and avoid financial loopholes and risks.

Third, self-employed businesses need to reasonably plan their business activities according to their actual conditions, prevent business risks and legal risks, and ensure the long-term stable development of enterprises.

Finally, self-employed businesses need to understand market dynamics and policy changes, adjust business strategies in time, seize market opportunities, and improve enterprise competitiveness and profitability.

In short, as a common form of operation, self-employed businesses need to pay attention to the knowledge of finance and taxation in the process of operation and management to ensure legal operation and stable development.