I have searched many many hours but would like to bring this to the top. I am hiring an accountant this year to do my taxes and will probably have her set me up as a LLC. I am buying out accounts, truck, trailer and equipment from my previous employer. I am still a little lost on what is best to do or how to keep track of this on the accounting side. I plan on talking more with my accountant but everyone here is always so helpful also. I will be making payments through the year every month for the accounts and equipment. Currently I am a sole prop but am thinking of changing to a LLC in the next week or two. Will this affect at all the buying out? From what I've come up with seems that tax treatment will be the same either way as LLC or soleprop. I would depreciate the value of equipment....and list payments for accounts as equity? My previous employer said he could structure it so the accounts are given to me but I am paying for all the equipment to make better deductions? Says he is free to do with the accounts as he wants but that I am purchasing all the equipment and just taking over the accounts. Is this allowed? I guess just looking for a little more advice on if changing to an LLC would affect the buy out? Change how I need to handle anything? Would it be better to buy out as equity/accounts....or as the truck and equipment? Thanks in advance!