Mind if I ask a few questions of my own first?
Why are you considering filing the entity reclassification to be classified as an S-Corp? I assume you already know that a corporation is taxed at a higher rate than a disregarded entity.
What does your business do? Provide services? Sell product? Both? Maybe it owns and manages real estate of some type?
" As a freelancer, I'd like to support as many types of compensation as possible."
Exactly what do you mean by "support" as many types of compensation as possible? Does your business have employees? You state "as a freelancer" so I doubt you have any employees, or even any subcontractors you pay for that matter. So I'm really not clear on this at all.
Overall, I get the impression that some tax professional (like a CPA) is trying to talk you into doing something that may not benefit you, but will put more money in their pocket. When one elects to have a disregarded entity treated "like an S-Corp", that's for tax purposes *ONLY* and absolutely nothing else. It will afford you absolutely no protection what-so-ever of your personal assets, should a client have reason to sue you. Remember, the 8332 or 2553 is for tax purposes *ONLY* and nothing else.
