<prompt> Human: Hi Reddit,Heres my overall financial situation:For most of the last year I was homeless and on medicaid, but not qualified for unemployment because the jobs I took and lost were out of state. After coming back to Colorado I was totally out of luck and staying with friends and living off of food stamps. During this time I did work a couple of jobs for about a month each, but the money ran out pretty quickly. I didnt pay taxes on my two 5k severance checks. Nor have I filed my taxes this year yet.Additionally, during this time I started a business. My business is is receiving monthly checks at a rate of 126,500 year. Since my private bank accounts are totally hosed, I started a business checking account and the money goes there. For the last 2-3 months I have not paid myself in part because I dont really know how. I use mmy business debit card for pretty much everything. I hope this is fixable and that Im not totally hosing myself by doing this. When I started I was completely, 100 screwed and really just needed a way to obtain and spend money. I have also not yet payed any business taxes. On top of all this, I owe about 70k in student loans, my credit score is about 600, and I have a relatively small amount of money out to collections. I owe about 3k to a couple of banks for my credit cards which are now out to collections, and some medical bills.I think I clearly have a complicated tax situation which I am not personally prepared to resolve, and I also could use help with financial planning. I reached out to a local business but they want 1k to review my situation and prepare a report, and I was not in general convinced I could find a personal financial planner that was also qualified to help me with my tax situation. Then I thought of this subreddit.Its also worth mentioning that, while I do have some money right now, this job could go away at any time and I will be forced to live off of my savings.Assistant: what form of entity is your business incorporated as? Given what you say, its probably a sole proprietorship. This means all the income is taxed as personal income. You need to get a CPA to do your taxes for you ASAP and start paying yourself. Your CPA will guide you on whats deductible for your taxes. Ask him about forming a limited liability company as well LLC. This will help shield you from liability a bit, the CPA will explain more. Congrats on pulling yourself back from the brink! Time to be financially conservative and put money away to avoid dangerous situations in the future. edit: Hey thanks for the gold!Human: Thanks. The company is a Public Benefit Corporation.Assistant: Which election did you select? C corp or S corp? S corp is pass through, so youll be taxed as personal income, but C corp is a lot more complicated. Im not as familiar with PBC and theres not a ton of case law around them yet either. Seems interesting, but any privately held company can act like a PBC. Only becomes an issue if youre publicly traded... and as far as I know, there arent any PBCs that are publicly traded. Human: I am not sure. I just checked the filing document and all it says is that it is a Profit Corporation.  <response>: Definitely work on getting a CPA as soon as you can. You have a very short time to get your filings down Youll likely need to file for an extension to be honest, and CPAs are very busy right now. Good luck! 