Deductions & credits


@EXODUS wrote:

......I should switch to an S Corp and pay my self a salary so I don’t pay self employment tax....


But you'll have to then pay FICA (see https://www.irs.gov/taxtopics/tc751) and also FUTA (see https://www.irs.gov/individuals/international-taxpayers/federal-unemployment-tax).

 

You'll also have federal and state compliance costs, such as filing annual reports (fees), quarterly withholding, federal and possibly state corporate income tax returns, et al.