| I am afraid this is mostly a legal question, and you really need to consult an attorney regarding your particular situation.
Most people approach me to incorporate because they want legal protection, and being a Corporation, they feel it brings more legitamacy to their business, a feeling of financial strength. Other times, the client has several businesses which he wishes to separate from a potential new entity, so he chooses to incorpoarate.
Most Dr's, Dentists and IT companies choose to incorporate as soon as they start their businesses. If you have business partners it might be very prudent to either form an LLC or incorporate for protecting individual partners from the action of another partner.
Usually, profit is profit, strategically you can make a few decisions that may save you taxes but generally, in most cases, profit and taxes are not going to change materially.
It is often said in the profession, if you are small corporation, chances of being audited are rare! However, chances of a Schedule C client being audited are generally higher!!
This is not my opinion, it is often mentioned in tax forums from experts who have significant experience in handling IRS audits.
In short, definitely, consult your CPA/Attorney and consider the legal advantages at least and form an LLC or C Corporation.  | 
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