Started local review site...

EnigmaPrimeEnigmaPrime Posts: 1subscriber
edited May 2011 in Business Planning
Hi I just started a site as a hobby in San Francisco.
This is for fun now but hopefully in a year or two I will get some revenue from it once I have invested enough time & money.
I
purchased the script license and domain name, created the logo &
all graphics myself & spend approximately about two to three hours a
week working on reviews & adding new businesses etc.
I don't get paid & this is all in my free time.
I have about 30 members with in two weeks, yes I know low but steadily growing.
I use Facebook, Twitter, Foursquare & various other social networks to advertise the sites existence. I am planning to print business cards, flyers, stickers & T-Shirts sometime in the future, but that is a ways off.
I do all this from home office I set up or from my tablet in the venue I am reviewing, baring in mind I've kept very local for now.
This is my first business so please bare with me if these questions seem noobish ...
MY QUESTIONS!
1. Should I set this up as a proper registered business now rather than later (Currently a hobby) since I have spent time & money, in order to claim or pay taxes on same.
2. If I do set it up as a proper registered business can I claim as a right off the following, dining costs of venues I have eaten at and subsequently reviewed, my home office, basically I'd like to know what I can right off etc. (obviously a business bank account with a Credit card would be required for this).
3. Any advise from you fine folks would be very greatfully received.
www.tenderknob.com

Thanks in advance

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