Tax Planning Using S Corporations

Though tax bloggers usually are the "go-to" people on all things taxes, personal finance blogs do from time to time add some interesting thoughts worth considering to the tax discussion. In an post included in the Carnival of Business, Johnthan of My Money Blog discusses how using S-corporation form, if done properly, can legally save thousands of dollars of self-employment taxes for high earning self-employed professionals. His example was interesting: 2004 Vice Presidential candidate John Edwards in the context of his law firm.