Just to add, the other reason to form a corporation is really for legal protection because the corporation creates a "shield" from liability although those shields from time to time are broken down by the lawyers.
You will get the hang of it soon. I've been self employed for almost 7 years and have lot of experience.
Although with a non working wife and kid now, I am actually thinking about going back to straight W2 with health benefits because health care costs are skyrocketing for families. It literally costs me almost 8K in premiums plus another $6K in deductibles for health care expenses last year.
But if you are single, you usually don't have to worry about health care costs like I do with a family.
By law, you are really supposed to add back the health premiums back onto the W2 wages you pay yourself as a S corp and that's taxable. You deduct it from the business side.
But lots of people cheat on this matter...oh...I can just go on and on about business deductions and taxes.