Are You an Independent Contractor Receiving a Form 1099? Consider Incorporating.
If you are an independent contractor who receives Form(s) 1099 at year end for the work or services you perform for others, you might want to consider incorporating. If, for example, you form an S Corporation, the individuals and entities for whom you perform work and services would pay, as well as send a year-end 1099 to, your corporation rather than you as an individual. This could result in substantial personal and financial benefits, including tax benefits, to you and your corporation. Gustafson Nicolai pc has formed S Corporations for a number of clients with similar situations. If you have any interest in incorporating, or any questions with regards to the pros and cons of incorporating if you are a 1099 independent contractor, feel free to contact us and we are happy to provide you with a free initial consultation.
Posted by: Adam Nicolai, esq. and Ryan Gustafson, esq., March 13, 2015