I was wondering if anyone in my neighborhood could provide an answer. I am an independent contractor. I am a computer programmer. I only have 1 client and have contracted with them for almost years. I work primarily at their office, so I cannot deduct my vehicle expenses nor can I claim a home office exemption. They have provided me with a laptop to use and they pay for any travel or training they want me to take. I am self employed and literally have no expenses to claim to lower my taxes. The only thing that sets me apart from a regular employee is that I set my own hours and I do not get paid benefits. So I pay 100% of my income taxes which is upwards of $23000 each year. OUCH! My question is, would it benefit me at all tax wise to change from Sole Prorietor to an S-Corp? How can I lower my tax liability? Any help you can offer will be greatly appreciated. These taxes are eating my lunch and baby needs new shoes!

correction to above post

Just noticed a type-o, I've been contracting with the client for almost FOUR years.

hmmm

can't help you with the tax question, but to me, you sound like an employee rather than a contract employee that is not having taxes deducted. That is benefitting them not you.
my 2 cents