If you decide to take the plunge into self-employment, one of the first things I'd recommend you do is find an accountant you trust. Talk to him or her about the pros and cons of the different business structures and whether it makes sense for you to incorporate.
For me, I wasn't making enough money to justify some of the additional expenses that come with incorporating. At least not initially. I also wasn't in a business with much risk of being sued. Eventually, earnings grew, and I discovered there were some tax savings that came with incorporation. So I made the move. On the other hand, the bookkeeping got a bit more complicated, and bookkeeping was not my strong suit to begin with.
The Ohio Small Business Administration has lots of information for entrepreneurs, including an overview of the different business structures, different forms of business ownership, and more.
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