As a result of Chipper being a sole proprietor, any profit earned is taxed only as Chipper's personal income.
Taxing a sole proprietor
A sole proprietor is in hundred percent ownership of their business which means that they get all the profits.
As a result, the profits of a business are considered their personal income. They will therefore be taxed as their personal income at their marginal tax rate.
Find out more on sole proprietors at https://brainly.com/question/4442710.
