What are the pros and cons?

http://www.llcsexplained.com/llcsexp...rporations.htm
http://www.sandiegobusinesslawfirm.com/llc-vs-s-corp
http://www.nvinc.com/CaliforniaLLC.htm (charts and figures to view)

Have a hunt through google on this. Really this is something that you need to talk to your CPA about as saying "but Conor said that I didn't have to do that" is not going to hold up in court

In Canada, it costs around $1000 to incorporate if you hire a lawyer.