Declaring Yourself a Corporation for Tax Purposes

[Holden97]

Tax discussions end up all over the place and seem to most frequently end up in the New, Views, Gossip forum.

The main advantage to incorporation would seem to be making distributions from an S Corporation and avoiding the payroll taxes on those distributions.

Income from a single-member limited liability company (one owner) is typically reported as if the owner earned the income directly. A single-member LLC is commonly referred to as a disregarded entity.