Is it worth registering business ?
Hello,
I have little local selling business, I buy it from Supplier that’s based in China. And I sell merchandise online or local. If my sells are over $50k and I also usually have send money to China through wire because there is no real invoice.
What can I do here ? Is it worth registering it as a business ?
Or
Should I just Wire money through personal account and show The profit on my personal taxes as the income ?
Thank you in advance
I have little local selling business, I buy it from Supplier that’s based in China. And I sell merchandise online or local. If my sells are over $50k and I also usually have send money to China through wire because there is no real invoice.
What can I do here ? Is it worth registering it as a business ?
Or
Should I just Wire money through personal account and show The profit on my personal taxes as the income ?
Thank you in advance