Hello, new poster here. Had some questions about tax prep for a newly created small business.

Situation:

• Wife and I started our business in late January of this year and formed an LLC.
• We each own 50% of the business.
• We both work from home. (Bought our first home this year as well)
• We are both employed by another company (W2) and file jointly.
• Our business currently owns shares of 3 other companies (Two startups and one well established business).
• Our business offers web development, hosting, marketing and consulting services.
• At this time my wife and I are not taking a paycheck from our business.
• We use Wave accounting for our bookkeeping and categorize every transaction.
• We use Stripe for our payment processing.

Questions:

• We got our first distribution check recently, is there a certain way we should categorize that income in our accounting software?
• Hope this question isn't too broad but, overall how should we file our taxes? We've seen many conflicting answers online so far.
• Are there any tax preparations that we need to do throughout the year?
• Are there any deductions and or credits we should be aware of?

Thank you in advance.