Settled in America
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The classic settled-immigrant move: turning a side hustle into a real, registered American business.
LLC or sole proprietorship — choosing your business structureThe moment you sell anything regularly, you have a business — the only question is its legal shape. Sole proprietorship is automatic and simple; an LLC costs a state filing fee but walls your house and savings off from business debts.
The EIN and a real business bank accountAn EIN is the business's version of an SSN — free from the IRS, issued in minutes online, and the key that opens business banking, payroll and wholesale accounts. Never pay a third-party site for one.
Self-employment tax — the bill nobody withholds for youWorking for yourself means nobody withholds anything. On top of income tax you owe self-employment tax — both halves of Social Security and Medicare — and the IRS expects it quarterly, not in one April lump.