I WOULD LIKE TO KNOW WHICH METHOD TO USE TO INCORPORATE TO REDUCE SELF EMPLOYMENT TAXES. MY ACCOUNTANT REFERRED ME TO AN ATTORNEY BUT I CAN NOT AFFORD IT. I AM A SINGLE MOM
This is definitely an issue you will want to consult with your tax advisor. Generally you will not want a C corp. In some cases a S corp will be useful to cut employment taxes but could have other impacts. Moreover, tax implications are only one factor to consider in determining what type of business entity you should be be using.
You may also want to review self-employment information on the IRS website. Link below.
This answer and any information contained in this answer is not intended to be treated as legal advice. This posting does not create an attorney-client relationship or privilege of any kind. This attorney actively licensed only in the State of Georgia.
