My attorney and accountant had told me to become an LLC taxed as an S-Corp. This cuts down on the Social Security tax. It is a little more money to get your taxes done but its well worth it. Also the one thing with an S-Corp you have to pay yourself as an employee. You are no longer the owner of the company but you are the main shareholder. I too would like to here how some of the other abstractors are set-up.