I'm a freelance web design and I want to incorporate my business? What type of corporation do I want to be?

I am self-employed with no employees and I work from home. Is an S or C type best for me?

I'm a freelance web design and I want to incorporate my business? What type of corporation do I want to be?
If you want a corporation, Type S. However you should probably just use an LLC. for right now. You can still file a schedule C for tax purposes this way....
Reply:Go to www.ex-ecutivedecisions.com and check out the FAQ
Reply:ditto to the first guy
Reply:The answer really depends on your personal situation. C corps and S corps have different advantages and disadvantages. Generally, if you are thinking S Corp. you might just be better off creating an LLC instead - they are taxed the same way, but there is less paperwork with the LLC. With a C Corp, there are certain things that are tax deductible, that are not with an S Corp. For example, health insurance. If you are an employee of your own C Corp, it is tax deductible to the business, and it is not taxable income to you. You lose those tax breaks with an S Corp (or LLC). On the other hand, you may end up paying less taxes in the long run with the pass-through taxation of the S Corp (or LLC) model, because profits (after you pay yourself a modest salary) would flow through to your tax return but would not be subject to employment taxes. Find yourself a good tax attorney or CPA and get a professional opinion based on YOUR PERSONAL SITUATION and ultimate business goals.