LLC vs. S corp for Contract CFI

[drunkenbeagle]

I'm in need of starting one of these. Haven't decided which for tax reasons. What is the difficulity level of filing the Articles on Incorporation and other documents? Is it worth paying legalzoom the extra $100 bucks?

You can very easily do it yourself, not worth paying anyone a dime. The S-Corp election is one page you mail to the IRS. Also request a tax id for your business. http://sunbiz.org/ has everything you need to create a business in Florida. Go to a bank and open a business account once you have all of that.

If it is going to be your sole source of income, set up payroll for yourself with ADP or Paychex (bank of america or others may do this for you as well). Pay yourself something, even if it is $500/month W2. The IRS doesn't like it if you don't have a paycheck (you can take most income in dividends, talk to an accountant on this one). http://www.score.org/index.html -- these guys can give you some reliable, free advice. Good luck!