I'm looking into a corporation, with me as an employee. Not sure how it works yet, but it seems that my corporation can do more things, with more tax advantages, than I can. If I work as an employee, I might be able to pay myself a subsistence (low tax) wage, and cover more stuff through the corporation, hopefully expenseing it before paying the 35% corporate income tax.
For example, if the corporation purchases real estate, it won't pay tax on that expense. If I live in it, it can be in exchange for custodial/security duty. I get $15-20 per hour, but the corporation pays for the auto-mobile, gas, travel (appliance repair conventions or other) etc.
If I pay for real estate, it is with after tax dollars, even with the interest deduction. The corp. only pays tax on "profits." People, including LLC's to an extent, pay tax on "earnings."
That being said, I haven't hashed all of this out yet to see if it is doable. There might be many holes in this idea.