I currently own a restaurant and decided to open two other locations.
Actually, how you report this (that is, "if" you report this) on your 2021 tax return depends on quite a number of factors, since you already have one restaurant location that was up and running in 2021 or before. I would highly suggest you seek professional help ASAP. This could be even more crucial if your state also taxes personal income, or if any of the other two locations are in a different state.
When it comes to taxes, perfection in that first year is not an option; it's a must. So you should seek professional help for at least that first year. After that, once everything is "established", you should be able to continue future years on your own.
Also, having three restaurants, I would expect you to be incorporating the business if you haven't already. But just because I expect it, doesn't mean it's best for your situation. That's why professional help would be best.
