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[quote=Anonymous][quote=Anonymous]PPs are raising good points about potential down sides. A benefit would be that you could take more business deductions in your taxes as an IC, including office supplies, travel, equipment, etc. [/quote] Another is that you can stash a lot for your retirement when you get paid a lot - "Get this: A 52-year-old entrepreneur netting $300,000 could use a one-person defined-benefit pension plan combined with a solo 401(k) to shelter a total of $169,800 from current income taxes, ..." http://www.forbes.com/sites/ashleaebeling/2013/02/13/how-entrepreneurs-can-get-big-tax-breaks-for-retirement-savings/[/quote]
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