For most of the past 15 years I've been a self employed consultant working on various programming assignments. I am not incorporated but I am starting to think I should be, especially now that all of my income for 1999 will probably come from only 1 client instead of the usual 3 or 4. The problem, of-course, is that having income from only 1 client may be construed as an employer/employee relationship by the IRS.
Should I incorporate or should I ask my client to bring me on as an employee? Are corporate taxes higher than personal taxes? Does incorporating even help at all with this issue?
I realize these are questions for a tax accountant but I'm curious as to what other self employed developers know about this.
Mark Achin
Independent Consultant, VFP MCP