December 1, 2011 at 2:16 am
#819805
Inactive
@Warren 233603 wrote:
Corporation is always better if you are in the U.S. As a sole proprietor, you have less opportunities for tax deduction and are also subject to a self employment tax. Plus you are not faced with any legal liability on your personal assets if the corporation has any unresolved liabilities.
Same with Australia… I used to be sole proprietor… paid the $1000 and went for a corporation. Have never looked back either. Also it helps with growth, and giving yourself a wage, retirement fund, funds for projects – it’s what pushed me into running my “hobby / interest” into a proper business.