Maybe.
It is possible it could save you some taxes, but it is also possible it could require you to pay more (beside a lot of extra paperwork).
There is no way anybody can advise you of that unless they see your entire financial situation. If you are considering it, you need to go to a face-to-face appointment with a tax professional who can analyze your entire situation.
With the limited amount of information you gave, I suspect it would cost about the same or more to be taxed as a S-corporation, so you would not want to do that. But again, only somebody who can see everything can give you a proper assessment.
