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Question about being incorporated - longtimemt

Posted: Apr 19, 2012

Does anyone know if there are tax benefits to being incorporated as an IC? I was once told that if I was incorporated I did not have to pay part of the self-employment tax. Can anyone give me information on this, is it beneficial to become incorporated? I am the only income in my household, a single mom and the taxes are going to mean I am maybe making 5 cpl typing from the 8 that I was offered and if I have to put back 28-30% I may as well not even work. Thanks for any input.

incorporated - imo

[ In Reply To ..]
IMO, it's not worth incorporating. You usually incorporate to protect personal earnings, and likely would do an S-Corp. But, I don't see any real cost savings. You will still have to pay corporate fees.

Get a good accountant and keep good records, you should be able to make being a sole proprietor IC work for you.

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