You 'really" need to seek the services of a business professional (maybe a CPA?) to help you set up your books. Until that's done, it's rather hard to guess what's the best way to handle things on the tax front. There's just to many possibilities here, and no one way is necessarily better or worse than any other way. Overall, this pubic user-to-user forum is probably not the best choice for this.You can ask 5 different people the same question and get 6 different answers; and none of the answers will necessarily be wrong.
