I have heard of some (rather successful) writers incorporating - that is, creating a corporation of which they are the sole member. What are the potential advantages (or disadvantages) of doing this?
As this probably varies a bit by location, I am specifically interested in how this applies in the United States.
Also, I know this veers rather close to being a legal question, but I am not asking for legal advice, nor am I asking if I should incorporate. I am merely wondering why people consider this option. Obviously someone seriously considering this would want to consult a lawyer and/or accountant.
If people still think this is "too legal", we can talk on meta or chat.