Hmm by the looks of it I would be a lot better off if I just apply for an LLC, that way I can deduct expenditures from my taxes (and there have been a lot of them as I've bought all the resources I need suh as autoresponders, webhosting with 15TB bandwidth for the new few years, domains, PPC, etc.).
Thanks for your input guys, it turns out that you don't need to report it if you make less than $600 self-employed (so if I only have 1 source and it was $599, then I wouldn't need to file for it).
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