I got a verbal agreement to fund my search! what's next? taxes, documents?

Hey all, I have verbally secured funding for my search! The investors will pay me as a contractor for 12 monthsredactedI will likely have to cover some of the expenses. So, I'm trying to figure out what would be the best approach for tax purposes. Ideally, I would like to deduct expenses to pay less taxes, but what type of business entity should I use? Also, any guidance on how to instrument on paper my agreement with the investors?