When Does It Make Sense to Form a Corporation?
For example, this year I used Turbo Tax to do my last year taxes. As a freelancer, I thought that I'd have a lot of deductions, but when TT asked me the questions about deductions, things only added up to about $1500, which was significantly less than the standard deduction.
We currently rent, we own our car, which is only used for errands about twice a week. Our primary expense, besides rent, is food. I'm a writer and don't have many business expenses...
Am I wrong in thinking that it wouldn't make sense at this stage of the game to form a corp? When is it a good idea? I know that there are warriors that are much more knowledgeable about this than me...
Love,
Shannon
Ed
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