Closing A Business Questions
I have been with my boyfriend for 4 years, on and off. I started a business as a sole proprietor a year and a half ago. I invested $53,000 into it from the sale of my house. Which was only in my name. I took that money and started this new business. My boyfriend has been a huge part of helping start the business and keep it going. However the business is sinking as is our relationship. I want to close my business and start fresh in my life working for someone else. Being a sole proprietorship in my name, will I have to pay him off somehow? We are not married. And how will my investment initially offset that?
the business is in debt many thousands. I could not afford to pay him anything. I live in Oregon.