For tax purposes, I hear an S-Corp is beneficial. I've also heard that an LLC is a great way to seperate personal from biz if you have people on the payroll. My question is whether or not it's beneficial to incorporate if you're an individual webmaster promoting other companies? I currently pay a self employment tax, but I'm sure there's an option out there that is a million times better than that. Also, how much money would you have to earn to make incorporating beneficial? I know there's no rule, but is it worth doing if I'm not quite at the 6 figure mark? I'll be close to it this year, but I don't want to do so if it won't be beneficial.
Also, I'll be purchasing a home and when applying for a loan I need to have 2 year job history. If I stay how I am now, I'm fine, but if I incorporate will I have to start the 2 year history all over again?
I'm sure others have these same questions. What would you guys suggest? What have you done to make your finances as tax friendly as possible?
