[Zophie]

^^^

Some people incorporate and it saves them money. I talked to my CPA about it and she said it might not make much difference in my case and if I incorporated I'd then have more paperwork and it would be more of a pain. I have enough trouble just finding time to balance my checkbook. But it's definitely good to find a good CPA to consult with. When I first started working as an IC I met with one and talked over everything.

Find out what is deductible for your line of work. Even though you get gouged with the self-employment tax it helps that you can deduct a lot of things. For instance, I can deduct my home office, mileage, parking, office supplies, computer equipment, part of my cellphone, part of my internet, health insurance, IRA, work-related travel, etc.

[UK2ME]

Originally Posted by Zophie

Some people incorporate and it saves them money. I talked to my CPA about it and she said it might not make much difference in my case and if I incorporated I'd then have more paperwork and it would be more of a pain.

That was what we went through with my DH - it just stopped being worth being incorporated when the bulk of his money is earned elsewhere.

[Vegas Long Legs]

Have you guys considered setting up an LLC? Less paperwork than being inc.