Would incorporating in Nevada save a bunch of money on taxes? Here's what I figure: by opening a C-Corporation vs. the S-Corp I have now in NY, I can save on self-employment tax and state corporate tax, which comes out to 15%+8%=23%.
The second part of my question is what corporate money with a C-corp can be used for, as it is double taxed. Can't I just buy things with corporate money without claiming the money as personal income? I know this means not everything can be written off as a business expense, so I am still paying one form of tax on it, just not income tax.