I have been working as an Independent Contractor for courier services for almost 8 years. IC's are considered their own business and I file a 1099 at the beginning of the year. I file. So I have this QB Pro 2010 and need to know when starting a company file, do I set up two (2) companies? One for my new business and then a separate for me as an IC? Technically the business hasn't made any money and everything that I have paid for with regard to the business will be written off on my taxes as an IC. So the new business doesn't have any gains or losses except for business licenses and the like. It makes it simpler for me. Also I will still be working as an IC except that it will be under my own company so I need to know how to set that up as well.
Thanks.

Wait a minute. You have been contracting yourself out to others for years, and they send you 1099s at the end of each year.
Now you have started your own courier business, getting your own clients? As a sole proprietor (no corporation or LLC)? And you will still be working for others? Or do you mean you will continue to just work for others and get 1099s, but you will do so under this new company name, which so far just has spent money on a license?
You didn't have to become a 'company' to file expenses each year on your Schedule C. You are still just your name, your SSN, sole proprieter, and you can deduct your vehicle and all pertinent office expense (computer, phone, etc) as long as it is distinct from your personal expenses.
But it doesn't hurt to start the new company and you can just be one company in QB. Then you are all set as you do get clients, even if you are still getting 1099s from your old jobs. All the income from all sources goes together on the taxes.

If your 'company' pays you and issues a 1099, you have to file taxes on that income as an individual. Until you become a corporation of any kind such as LLC, which you should look into for liability purposes, it's easier to operate as yourself doing business as (enter your name and then d/b/a the company name you chose) as a sole proprietor (no corp, no partners, no employees). Only one tax return. Even if it includes the 1099s you still get from others. Those are income, the 1099s you will issue are expenses.