[red-beard]

For what you are talking about, an S corp would be best. You report the income from the business on your 1040, but you get the protection and write-offs. Basically, travel and business expenses will be the primary write off.

With a C corp, there is a double taxation issue (Corp Tax, then dividend tax when you transfer the money to yourself). Unless you have a reason to build up capital in the business and not transfer the money to yourself, a C corp is overkill.

Putting the business in your wife's name will not get you anything, unless her credit score is significantly better than yours. If it is, put the business in her name and name her as the president. This will come in handy if you lease a car in the businesses name. Do name your wife and the kids as stock holders. You will want to have periodic stock holder meetings...in various places around the world.

Rememeber, computers, cars, etc, that are purchased, are not expenses. They are capital assets which are depreciated to recover value. Leases are an expense.

PM or e-mail me if you want more details, since I've gone through this a couple of times.