Thanks for the insight! I did keep copies of everything and took photos of the completed forms before mailing them. About the address - that's actually a concern. I might be moving to a different apartment in August. Should I submit a change of address form with the IRS now, or wait until closer to my move date?

I recommend waiting until about 2-3 weeks before your move to submit Form 8822 (Change of Address) to the IRS. If you do it too early, they might start sending mail to your new address before you're there. Make sure you also submit a change of address with USPS, as they can forward your mail for up to 12 months. This gives you double protection against missing important IRS notices. And don't forget to update your address with your school's international student office as well, since they handle your tax documentation for visa purposes.

Not all states have income tax though. And for nonresident aliens, state tax filing requirements vary widely depending on which state they live in. Some states don't require nonresidents on F-1 visas to file at all if their only income is from a qualified scholarship.

I had no idea banks could do that! Is this something most banks offer or only certain ones? And do you just call them up and ask for it?

Not all banks offer this service, but many of the larger online banks do. Ally, Capital One, and Marcus by Goldman Sachs definitely have this option. Some traditional banks offer it too, but you often have to specifically ask for it. You typically need to fill out a W-9 form with your tax withholding preferences. Some banks let you do this online through your account settings, while others require you to call customer service or submit a form. It's worth checking your bank's website under "tax information" or calling them directly to ask about "federal tax withholding on interest income.

Can confirm this works. I had a similar situation with unexpected 1099 income and got hit with a $400 penalty. Called the IRS, politely asked about the First Time Abatement policy, and they removed it completely. Definitely worth trying!

Exactly! Many people don't realize the IRS has this policy. You can request it by phone, through a letter, or your tax professional can request it for you. Just make sure you specifically mention "First Time Penalty Abatement" when you ask. They won't automatically offer it even if you qualify!

Thanks for breaking it down so clearly! One more question - do I need to keep any special records of having sent these to my contractors? Like should I send them certified mail or keep email delivery receipts if I send electronically?

It's a good practice to keep records of when and how you delivered the 1099s to your contractors. If sending by mail, certified mail isn't required but provides good proof of delivery. If sending electronically, keep the email with the attachment and any delivery/read receipts you receive. The IRS doesn't specify how you must document delivery, but having evidence that you met the January 31 deadline can be important if there's ever a question. Most tax professionals recommend keeping these records for at least 4 years along with your other tax documents.

Does that work if you're not already using their software for bookkeeping? I just have my contractor info in a spreadsheet but don't use any special accounting software.

Can you use a Solo 401k if you already have a 401k through your full-time employer but also have a side business? I've been wanting to shelter more of my side income from taxes.

Yes, you can have both a 401k through your employer and a Solo 401k for your side business. The $23,000 employee contribution limit applies across ALL of your 401k accounts combined. So if you've already maxed out your employer 401k, you can't make additional employee contributions to your Solo 401k. However - and this is the great part - you can still make the employer contribution to your Solo 401k, which is up to 25% of your business net income. This is completely separate from anything happening in your day job's 401k. Just make sure your side business is legitimate with actual income, not just a hobby.

Defined Benefit Plans can be amazing for high-income self-employed professionals like yourself. They allow contributions well beyond 401k limits - potentially $300k+ annually depending on your age, income, and years until retirement.

How do you handle items that are partially personal and partially for business? Like if I get a pedicure and use it both for content but also just for personal reasons?

You need to calculate a reasonable business-use percentage. For example, if you get a pedicure primarily for content creation but also enjoy it personally, you might deduct 70-80% as a business expense. The key is being reasonable and consistent with your approach. If you're using something like a cell phone for both business and personal, you'd calculate what percentage is business use. Same with internet, clothing items, or beauty treatments. Just be prepared to explain your calculation method if ever questioned. And always keep good records showing the business purpose of each expense.

Yes! I use an independent CPA (not one my family knows) and just say I'm a "digital content creator" or "online media producer." They know what questions to ask about expenses and deductions without needing specific details about the content. Just find someone who works with a lot of social media people and online businesses.