I did it 5.5 years ago and ...
It was really much easier than I expected - but I had the benefit of already having a full-time client when I made the move. The state and county paperwork were very easy and then you can apply for an EIN online so that was easy too. I started as an LLC and technically I am still organized as an LLC in Virginia but I just filed to be treated as an S-Corp for federal tax purposes.
I have just used Quickbooks for my accounting since I made the move and that is sufficient. I am turning over my taxes to an accountant for the first time this year since now I will have both corporate and personal taxes.
It definitely IS more work - in addition to your job, you have to run the business and unless you hire people to help you, it just adds more work to your day. However, it is also very rewarding and it is great not to really report to anyone except your clients.
Good luck!
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In response to this post by HokieAl)
Posted: 02/15/2016 at 3:03PM