Quote:
Originally Posted by nb6179505
S Corp and sole proprietor basically the same, pass through, but with the Corp you can be an employee and bonus yourself to avoid fica and Medicare...
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S Corp and Sole Proprietor are far from "same" and "bonusing yourself" as an employee doesn't avoid fica and medicare.
Unless this thing becomes pretty large, I always recommend sole proprietor form of organization for starters. This form has the lowest overhead cost. You can claim expenses vs. the income and attach Schedule C to your Form 1040 for the income and expenses of your business.
Any legal entity will come with overhead costs. Annual filing fees with your state, sometimes minimum taxes...forms and paperwork, etc.
If you want an entity for limited liability protection, single member LLC is taxed as sole proprietor, so maintains some of the simplicity and low admin overhead.
If there's enough money in play to warrant the overhead, then S Corp starts to make sense and there are some potential tax advantages.