Emitters based on semiconductor quantum dots are promising sources for both single photons and pairs of polarization-entangled photons. Typically, single photons are generated through a photon emission event bringing the electronic system from a single-exciton state back to the ground state. In the case of entangled photons two photons are generated through a cascaded emission from the biexciton to either one of the single-exciton states and then back to the ground state. Alternatively, emission of two photons can also be achieved through a higher-order two-photon process bringing the quantum dot directly from the biexciton state (through a virtual intermediate state) back to the ground state. Here we discuss in particular how this two-photon process can lead to certain conceptual advantages in both the generation of polarization-entangled photon pairs and generation of single photons.