Which should you do? If you incorporate, should you do the "S" option? I've read the descriptors for each one on several sites but I am still confused.
LLC or Corporation?
Choosing an S Corp election versus an LLC really depends--- do you have partners? If yes look into the LLC , if not, the S Corp is probably the better choice. Both provide pass-through income, you can also set up SEP-IRA or Safe Harbor 401 K plans with either, although if you make a LOT of money then a C Corp will help defer income best. Now, is that as clear as mud? You could always go consult with a CPA firm that does financial planning before you set up anything & get some professional advise :)