Hit $180K revenue last year here in Billings and my accountant is pushing me to incorporate. What are the pros and cons? Tax implications seem complicated.
Incorporating vs staying sole proprietor
I went LLC in Alaska for liability protection. Easier than S-corp for taxes but still separates business from personal assets. Costs about $300/year here.
S-corp election saved me about $8K in self-employment taxes last year in New Hampshire. Worth the extra paperwork once you're above $100K revenue.