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Self Incorporating in Texas?

I am self employed and I have been told that I should "self incorporate". Can anyone shed any light on this?

Just being self employed is not a reason to form a corporation or LLC. Since your tax basis would remain the same, personal income tax flowing through the corporate entity, there is no tax difference. The reason to incorporate or form a LLC is to protect yourself from liability. If your profession puts you at risk of liability than looking into a corporate identity might make sense.

If you want to do it it is easy to do yourself. See this article.

http://www.candidity.org/incorporating.h...

You could form a small corporation and be its only employee. The costs of a corporation franchise would probably not make sense. Contact a local tax professional who can look at your situation and make an intelligent recommendation.

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