Anyone here done this? Tips, tricks, caveats?
Long-term, I would advise to register an umbrella corp/LLC and obtain a DBA for each of your websites. In my experience, most banks do not understand that a single company can operate multiple domain names so eventually you end up with multiple corporations and LLCs just so that you can maintain multiple merchant accounts. DBAs are a much simpler and cheaper way to get around this.
The main benefit of this setup is that you can still do offline work (e.g. consulting) where you live. Since you are required to foreign-quality in every state you do business in, it wouldn't help you to incorporate in Vermont if you have local clients in another state - you'd just be doubling your paperwork, yearly filing fees, taxes, etc.
Apply for Employr identification no., and then apply for PayPal Payments pro. It will cost you around $30/mo.
Also you can have it hosted on Yahoo! stores/ small business - which is invented by PG - former known as viaweb :D
I think this is a good, fast and reliable solution for you.
I asked my best friend - which is American - to do it using her personal info, so she created a bank account specially for it, and she applied for EIN, for the taxes.
I am from Egypt, and Paypal is not even enabled for Egyptians, so it could be impossible for me to do it, without the help of "someone American".
If you know someone American who trust you so much and vice versa, then you can do the same I did. Believe me, I never met that friend in real life, because I never been in America!