I'm looking into picking the best business structure for doing 1099 work over the next 5-10 years. Some facts about my situation:
- fluctuating revenue: assume a range of $10,000 to $200,000 based on wants/needs
- will be renting from various places, some in high-tax US states, some in low/no-tax US states, some in foreign countries
- target expenses as low as 20k in some locales, as high as 60k in others
- outside of that contracting income, expecting 5-10k per year of taxable dividends/capital gains
- bunch of retirement accounts that can be used for a roth ladder in low-income years to generate income
- married, however no plans for the wife to do any work
- will be working from home
- when in the US, need to qualify for the ACA, Medicaid not an option
- not worried about liability concerns
- interested in having a setup where I can delay booking income for geographic arbitrage purposes
Where and how should I register my business? Ideally I want to be able to dial the work up or down at any moment and not feel like I'm in the wrong setup.
I realize these are super broad questions but I have no experience in corporate structuring, all my side ventures so far have been sole proprietorships with much lower dollar amounts supplementing W-2 income. I want to get this right.