[jlturner]

Very. Assuming you’re in the US, I’d recommend reading the IRS literature related to your type of business (C-Corp, S-Corp, Partnership LLC, Sole Proprietor LLC).

If you’re business structure is “pass through” (ie. S-Corp, Partnership, Sole Proprietor), then you should also read the IRS 1040 instructions and do your taxes (mostly by hand) and file here (for free): https://www.irs.gov/filing/free-file-fillable-forms/

The IRS guide will tell you how you should handle your accounting, what you’re allowed to claim as business expenses for tax purposes, how to handle employees vs contractors, and more. Also tax deductions are crucial for businesses as they’ll help offset expenses to make your business more viable. Good luck!