netmeg - 4:43 pm on Mar 17, 2011 (gmt 0)
I started an S Corp in Michigan a few years ago; all my web properties, AdSense, affiliate income and so on are covered by that. (Don't really see the advantage of separate corporations, even for wildly different niches and sites, at least not to me)
My "day job" (I'm also the CEO and one of the owners of that company) pays me a salary that I declare as personal income.
Areas can get a little murky, as I'm the sole proprietor and employee of the S Corp, and keeping track of what I'm buying and what I'm earning from which source for tax purposes is kind of a bear, but fortunately I have a wonderful accountant who is very patient and forgiving when I just dump a box of paperwork on her desk and say "figure THIS out!" She always does, bless her.
I cannot emphasize enough how useful a good accountant is, and they're not expensive as you might think.