It's an LLC (limited liability corporation), so you get most of the benefits of a corporate shell around you. LLCs are also taxed as partnerships, not corporations, so the tax structure - and amount of tax paid - is simpler and less is usually paid.
The twist on a "single-member" LLC is that if your LLC consists of only one person - you - then you're taxed not as a partnership but as a Sole Proprietor.
So you get the best of both worlds: You get a real, legitimate corporation, with the attendant liability protections. And you're taxed as a sole proprietor, meaning you just complete a Schedule C in your Form 1040 returns.
LLCs are also usually cheap to set up and manage. In Massachusetts (where I have my LLC), it's an excise tax of $500 annually. Reporting and bookkeeping requirements are minimal - not much more than for any sole proprietor. So it's a really good way to go.
Keep in mind that once you add someone as a member of your LLC (a partner, effectively), this advantage disappears, and you'll have to file a 1065 Partnership Return, and calculate the % distribution to the partners. So your accounting bill will go up, for sure, at that point.
Also be very clear on exactly what "limited liability" really means. Read up on what protections you get and don't get. Just because it says "LLC" in your corporate name doesn't mean you can get away with anything and everything. Some protections are excluded. One is obviously any kind of fiduciary malfeasance. So, just be clear on what liabilities are limited by this structure.
Else, do check out the tax implications where you live for a single-member LLC; you might find an ideal solution here.
Good luck with the business!