Describe the operation
Write down what the business does, who owns it, where it operates, and how it gets paid. Note existing contracts, shared equipment, and any plans to add owners or employees.
Bring the records
Gather the current account list, ownership documents, expense records, and a list of questions about separating personal and business activity.
Separate the decisions
Legal structure, tax treatment, permits, banking, and insurance each deserve attention. Discuss those choices with the appropriate professionals before filing. This guide is an organizer, not a recommendation to form an entity.
References and scope
This guide provides general recordkeeping education. It does not determine your tax treatment, permits, or filing obligations. Rene is completing his accounting degree and is working toward the Enrolled Agent credential; he is not currently an Enrolled Agent.