On the tax side, there is W2 or 1099. When you get W2(salary), taxes are usually withheld. In case of 1099 no taxes are withheld. So, you(as the contractor or L

On the tax side, there is W2 or 1099. When you get W2(salary), taxes are usually withheld. In case of 1099 no taxes are withheld. So, you(as the contractor or LLC owner or Corp owner) have to estimate taxes every quarter. LLC and Single person corps were treated badly 10yrs ago. Now pretty much every state recognizes LLCs/S-Corps and yes, one can be owner and single employee.