I'm a contractor in Minnesota with a single-person LLC. I was gobsmacked by the size of my taxes. Someone recommended filing as an "S-Corp" instead of filing as an individual, in order to not pay self-employment tax.
How, though? This is discussed in lots of blog/forum/Reddit posts, and the answer everyone gives is, "Hire a CPA."
But I like knowing how things work. This is my attempt at crunching the numbers. Note: I have no background in accounting/finance.