One of the decisions you will have to make is the setting the year-end.
All businesses have a year-end.
Many are December 31st, but not always. The year-end you choose for a business depends on the legal form of the business and the nature of the business. Sole Proprietorship or Partnership. In the past an unincorporated business could choose any year-end. More often than not a January year-end was picked because it provided the best tax deferral.