r/taxadvice

hi! i do not plan on paying any taxes ever again to the federal government.

I am married, filing jointly, and I make about 110k/year on my w2 job. I also have a 1099 side hustle where I make about 1.5k per month in addition to my w2 salary. my wife is self employed and makes 2-3k per month. I have an acorns account where i have about 115k saved and growing at about 8-12% per year. I have been sent 1099-DIV forms for the past 5 years but I have ignored them. What is my best strategy for next years tax return and avoiding being flagged by the IRS? I have already filed "exempt" on my w9 at my job. Up until now I have always paid my taxes normally (aside from not filing 1099-DIVs) but I only made about 30k from that in the last 5 years so that shouldn't be too huge of a flag.

I am in CA bay area. also willing to pay 6-8k to a good accountant or tax attorney to somehow find me zero federal tax liability. i do not care about the money, it's the corruption I am unwilling to support. willing to do other unethical things too like starting a church and funneling my money into it.

Havent paid taxes in 10 years . I have a small business 6 employees . I need to get my taxes in order before they take everything . I havent paid any taxes in 10 years . Small business . I havee no idea where to start . Irs is on me hard

I was the beneficiary of a trust that held real property in Michigan, but I'm a resident of Virginia. The land was recently sold, and I received about $35,000 from the sale. I also received a K-1 with the payment. I know I'll need to make an estimated tax payment to the federal government for this quarter by September 15. My questions are: (1) Do I need to make an estimated tax payment to Michigan too? (2) I'm assuming that I don't need to make an estimated tax payment in Virginia because the money wasn't earned here, but do I need to file anything in Virginia by the September 15 deadline?

I deeply appreciate any advice. Thanks!

Posting for my sibling. My brother had an Inc. established in Delaware by his tax preparer 18 months ago. He also retained this tax preparer to do his bookkeeping for the Inc. In the past 10 months, the tax preparer has not responded to any of my brother’s emails checking for updates.

This week my brother got a notice from
the State of Delaware: “The 2025 Annual Report was not filed as required.” The tax preparer did not respond to his email about that, either.

The TP is still active on LinkedIn, so seems to be well enough and not deceased, and still continues to take automatic payments from my brother’s credit card. TP is not responding to his latest message by email and social media to cancel their agreement and any further payments. My brother’s credit card company says the matter has to be resolved with the merchant (tax preparer), and will not halt the automatic CC payments.

What should my brother do next? He is located in Redding CA, and the tax preparer works from home in San Diego CA; TP does not have a mailing address that we can find.

Thanks in advance for any thoughts

so ive been getting help of a local guy to do my taxes for the last 3 years. everything was fine until last month when i got a notice from the IRS saying i owe around 12k in back taxes and penalties due to some unfiled schedules from 2022. been calling/emailing him for weeks now. Phone goes straight to voicemail, office door is locked... pretty sure he ghosted me now im sitting here with an IRS deadline in 30 days and zero clue on what to do. I dont even know where to start or how to fix this without getting destroyed by interest. any advice on who should i go to?

Nurse by night, marketing business during the day. I bought a decent laptop this year, nicer than what I needed for the business alone, partly because I use certain health apps and remote chart access for work. The actual business use is real though: content creation, client calls, running ad campaigns, all of it.

The split use is what's tripping me up. I know you can only deduct the business percentage, and I have a rough sense of how I'd calculate that. What I'm less clear on is whether the W2 side of the use creates any problem beyond just reducing the deductible percentage. Does mixing employerrelated use with selfemployment use flag anything, or does it just mean I calculate a lower percentage and move on?

Also wondering about Section 179 here. If I take the full deduction upfront based on business percentage, what happens if that percentage shifts in later years because the business use changes? I've seen references to recapture but the explanations I've found are vague about what actually triggers it and at what point it becomes a real liability versus a minor paper adjustment.

The laptop cost around $1,400. Not trying to get cute with it, just want to deduct what I'm actually entitled to without creating a mess.

Anyone have success using one of the models for a moderately complex tax return?

ive been doing Ubereats and Doordash on and off for the last two years. i never received W2 from anyone and all micro payouts from diff apps under $600 so didnt think half of it was taxable and i just estimated what i made then filing..... cut to today i get a CP2000 notice from IRS claiming i owe thousand in back taxes plus penalties because of unreported 1099k income.

how do they expect gig workers to keep track of every single dollar when we dont even get the paperwork from the platforms. i dont have receipts/mileage logs or anything saved from 2023. Am i completely screwed here? has anyone dealt with this and actualy gotten the penalty reduced or worked out a payment plan?

My last CPA was an asshole and quit. He amended my 2021 returns which I was supposed to get a good refund for but because he quit in May they now want me to pay $1,900. I also have to pay my 2025 taxes with the extension til October. Can someone please help assist with this? The amendment and what the IRS needed for 2021 is still in place so I’m sure it won’t be much work aside for 2025. Thank you.🙏

I assumed that because I lived in a college dorm for 8 months and the student aid of approx. $10,000 (VERY rough estimate) that paid over half of my education expenses, contributed to the few thousand dollars I made which wasn't that much on its own, but again combined with the student aid I received, not realizing that me living with a relative outside of that still counts has having lived there for the entire year to the IRS.

I'm completely lost

I am moving out of old workplace 401k (I left the company years ago) and want to roll the money into my ROTH IRA.

The money is currently ROTH 401k in the existing 401k.

Am I doing something wrong? I want to avoid any and all tax consequences. I just want to roll it over. is this possible?

Seeking tax advice: My 92 y/o grandfather is looking to surrender his whole life insurance policy due to his wife, whom recently passed, took out a loan on it and never paid any on the interest so the annual interest payment, which is in Jan, is pretty high- more than his fixed income can afford. The taxable amount is more than the cash value so the question is, with the tax implications, what should be his best move concerning filing/claiming taxes at the beginning of the year? He’s ok with not leaving anything to his daughters and has already handled his final expenses (burial plan).

Any advice/guidance is appreciated. Thanks in advance.

every guide i find online is the same "how to appeal" checklists everywhere but nobody talks about what actually gets results. trying to figure out if this is worth my time before i sink a weekend into paperwork. if youve done this and it actually worked, what tipped it in your favor? curious if its mostly about finding the right comps, or if presentation documentation matters more than i think.

Please no judgment lol I'm trying to get my act together wirh this problem!

So I'm kinda human and I've accidentally fallen behind on filing income taxes. I've had a butt ton of really awful financial issues the past couple years (my business failed, I was unhoused for a brief period and now I'm back on my feet) and just haven't had the budget to pay a tax guy, nor the time to track down W2s and get it filed myself. Thankfully I don't make much money so the IRS haven't flagged me that I know of, but I want to get back on track.

I need a tax professional in Texas who is comfortable working with people who have complicated situations tax reporting wise or are in situations similar to mine. I'm ready to get my act together and figure this out, I'm willing to pay a premium for peace of mind and knowing that it's handled.

I'm also looking for someone who knows tricks to get the tax bill as low as it can go. I think most accountants know this but if any of you have a tax professional who's saved you thousands of dollars before, that's who I'm looking for!

Any greater Austin area/San Antonio suggestions are welcome. Honestly any professional who lives in TX would be great! Thanks in advance, Reddit is always extremely helpful with this sort of thing. Thanks besties!

I unfortunately realized ~40k of short term losses due to my previous company IPOing and not selling my current company’s stock at vest (lesson learned). I am sitting on around 60k of long gains in just nvidia and apple that I’ve had for a while. Can I sell out of these gains and diversify without seeing a big tax bill?

The way I understand it now is short term loss offsets short term gain, long term loss offsets long term gain, then what is left will offset eachother.

I don’t really want to carry forward these losses since I saw that only 3k is deductible per year which would take me over a decade to fully deduct

I wanted to start a small business with Etsy, however my country is apparently not eligible. I tried registering the store in the US, since i have a visa to go there, however because of my dumb ignorance i still cannot do it because i either need a SSN or an EIN. I tried obtaining the EIN through the phone as it was asked, but no one ever picked up the phone. I sent a Fax a long time ago and i never got an answer for having the number. The only way to have it is either by having a SSN or an ITIN or a responsible party like a friend or family, but unfortunately i don't have one. Is there a solution for this? I hope I'm making sense of

Hi everyone! I'm the owner of a tax firm that works with individuals and small businesses, and I thought I'd do an AMA.

I've helped clients with:

• LLCs and S Corps
• Partnerships
• Self-employment taxes
• Bookkeeping questions
• Estimated tax payments
• IRS notices
• Tax planning
• Deductions and write-offs
• Multi-state tax questions
• New business tax setup

Whether you're a freelancer, contractor, business owner, or just trying to understand your taxes better, ask away.

I'll answer as many questions as I can today. If I don't know enough about your situation, I'll tell you what additional information would matter rather than guessing.

A few ground rules:

• Please don't post personal information like your SSN or full EIN.
• My answers are general information and not individualized tax advice.
• If your situation is unusually complex, I'll explain why and point you toward the next step.

Fire away! What's your tax question?

I have a possible new c corp client whose last accountant went MIA on them & they need someone to catch up 24 & 25 books & file those returns since 23 was the last filed return. I looked at his QBO & it is a total mess & the P&L & BS do not come close to matching the tax return that was filed. I do not want to get involved in any mistakes from the past and want to start a clean baseline. I know he could close that account and open a new company file, which to me sounds like a huge task, and I don't have much experience from starting at point blank with a C Corp. Or I could journal entry and zero out etc to match the filed return. As a tax preparer, I am nervous about the implications since he is a C Corp. & also how it will affect his financials in the future? The numbers are wayyy off-idk where the last bookkeeper got that BS. Any advice on which method to approach? I want to take on this client because the money is good and once it is cleaned i will be taking over the books and preparing the future returns. The client also really wants to get on track. I keep seeing so many mixed reviews online.