If you plan to operate your business as a corporation, whether a C or S Corp, just remember that you must treat the corporation as a separate entity. This means you must have a separate bank account, get a taxpayer identification number and then pay all bills and collect income through the corporation. Make sure you keep corporate funds separate from your personal funds. Also keep good records to justify all your business deductions. The IRS may disallow the corporation for tax purposes if you don’t treat it as a separate entity.