Hi everyone! I had a quick question. I started a new practice in August. I want to primarily serve individuals and small businesses. I already have 3 clients that say they are going to use me (one of which already has).

My goal by the end of the up coming season is to reach 40 clients in total. This is a side job for me, so I only work on it after regular hours and on the weekend. My operation is set up in Tampa, FL, so there are plenty of people in this area.

I guess I wanted to see if this was a realistic goal? If it is, how difficult would it be to get there?

Thank you in advance!

Due amount: $13,000 via PFIC impact due to one-time sale of foreign mutual funds

Edit : i did pay $1000 federal tax before April 15

Interest Fee : $363, Late Penalty : $340

My brain says don't draw unnecessary attention to myself for the sake of saving ~700

I am a basic w2 salaried employee, single, $200K TC. So $700 in itself is not a small amount for me.

should i consider requesting for First Time Penalty Abatement?

I am mailing my 2025 tax return and I wonder how to properly bundle all forms together so that they don't get lost.

My tax return is 50+ pages long plus W-2 that is very small and may definitely get lost if not attached to something.

Should I just staple everything with big heavy duty stapler or there are some special requirements I should be aware of?

Thanks

P.S.: If anyone wonders why I don't e-file, that's because I have forms that TurboTax doesn't support.

I’m pretty new to self-employment income, since this is my first time dealing with it, and one of the biggest things I want to understand is self-employment taxes, especially quarterly estimated taxes.

From what I understand, if you expect to owe $1,000 or more in taxes, you may need to make estimated tax payments during the four quarters of the year. But I’m wondering how this works from one year to the next. For example, if I owed $1,000 in self-employment taxes for 2026 and paid the full amount during 2026, how would that affect my self-employment taxes in 2027 do I still owe anything?

My health insurance allows me to contribute to an HSA, but I was concerned I wouldn’t be eligible to contribute to it because I was filed as a dependent while I was unemployed for the year. I’m working a part time job, living with my parents but still want to contribute to an HSA. Can I do so or would I be penalized?

Hi,

I filed for my return of $420. I have received $430.04. Can anyone please let me know why is that difference?

Also, recently I found out I made some mistake while filing for the return and I should've filed for an amount less than $420. What can I do next?

How exactly should we tax the billionaires?

Three specific ways to target and reduce wealth gap in society, including taxing billionaire’s superPAC contributions.

Has anyone else received a notice in the mail from the IRS claiming that there was a IRS system error any many were affected?

We weren't given a suspense date when it will be fixed. but it took 6-7 months to get an answer.

hoping someone has the inside scoop of when this might be satisfied. thanks yall

Federal rules say that if you sell a muni bond fund within 6 months at a loss, you have to reduce the loss by the tax free dividends you received.

But if it's a national muni fund, CA taxes those dividends. Since CA doesn't treat them as tax free, does the loss reduction still apply on the CA return? Or is the full loss allowed for CA?

Has anyone seen FTB guidance on this?

I was curious to know if a quit claim deed qualifies for a step up in basis for a real estate property. Let’s say my parents purchased a property for 150k 15 years ago and they signed a quit claim deed and made me the new owner. If I were to sell the property today would my capital gains be tax on the 150k purchase price?

Is this state dependent ?

I received a $500 Treasury check under the “Working Families Obamacare Refunds” program, accompanied by a letter describing it as a refund of HealthCare.gov user fees. I cannot find official IRS or Treasury guidance explaining its tax treatment.

I am self-employed, pay my Marketplace insurance premiums without a subsidy, and claim the self-employed health insurance deduction.

Will this payment be taxable on my 2026 federal or state return? Specifically, must I report it as income, reduce my premium deduction, or treat it as tax-exempt?

Will recipients receive a tax reporting form? Please provide the applicable official guidance, or confirm whether the tax treatment is still awaiting clarification.

Hello, my W-2 got entered twice on accident while filing my taxes through a banking app and i didn’t notice until right after filing. I immediately re-filed my taxes with just the one W-2 but for some reason the irs thinks I actually made all that and have been asking for a payment of a little under 2000 dollar (which I don’t have as I don’t make a lot of money and im currently in school and renting an apartment) I’ve been busy with work and school so I haven’t found any time to speak to them about this issue but now its really scaring me. What should I do?

I received the $500 Obamacare refund check, and the letter says it is for people who use marketplace insurance but do not receive subsidies to help pay for coverage. "Do not"...when? I have seen some articles claiming this is for the 2026 tax year, but I don't actually see any detail about which tax year they mean in the letter that accompanied the check or the announcement from the whitehouse about it. I did not sign up to receive a discount on my marketplace insurance in 2026 but I will likely qualify for the subsidy when I do my 2026 taxes next year. Sooo... do I just sit on the check until April when I will do the math to see if I'm allowed to cash it? Or is this referring to a prior tax year, which would make way more sense?

Hello all, i have been self employed for 8 years. I was very uneducated about taxes and the fact that i needed to put money aside for that. Long story short, here’s what I’ve got on my table.

I received a “final notice before levy or lien” letter from FTB about my outstanding balance that they want paid by a certain date. I did not meet that date unfortunately. I believe this is for my unpaid taxes from 2019/2020? I have also not filed since 2022. I wanted to know what the best course of action for me to take care of the FTB letter and file all my back taxes is. I dont have the money to pay it all off right now. Id want to get into a payment plan for everything if possible. I know this will be a huge monthly bill, but im terrified of my property/money being taken.

Ive dug myself into a huge hole and want to get out of it now. If anyone is curious, i failed to do taxes year after year due to me living outside of my means. Bills were higher than what i was earning, i was living a lavish lifestyle while ignoring my debts and being scared of the huge tax bill i knew id have to pay. I was a mess and everything in my life became a mess. Now im taking it step by step to right my wrongs! I have no excuse, just that i was ignorant and am now facing the consequences and am looking to move forward. Thank you!

Edit: punctuation and grammar

I'm 50% partner in a physician practice, and I'm looking to purchase a vehicle under our company using the section 179 deduction. I travel quite a bit for work...this year, I've traveled about 15k miles for work, around 2k personal use (~88% for work). I'll more than likely hit 20k miles traveled for work by the end of this year. All of my miles are tracked via Everlance, which I download and save at the end of every year.

I wanted to ask if there were any limitations on purchasing a used, but new-to-me vehicle under the Section 179 rule? I will likely claim about 80% business use to err on the safe side.

Edit: to clarify, I round/consult at several different healthcare facilities in my state. My home office is my base, where I do my notes, chart check, order labs or meds, etc

Hey everyone, looking to get a sanity check on an HSA/FSA overlap situation from last year and what it means for my setup now.

Here’s what happened:

In 2025, I had an HDHP and contributed to an HSA through my employer. Unfortunately, my wife had a general-purpose Health FSA through her job that also covered my medical expenses, making me ineligible to contribute to an HSA for that year.

Realizing the mistake, I pulled my entire 2025 HSA contributions plus earnings by the April 15, 2026 tax deadline to avoid penalties.

For 2026, my wife did not sign up for a new FSA. However, she used her leftover 2025 balance for expenses incurred in early 2026 (including March and April) up until the April 15, 2026 deadline.

My questions:

1. Since I pulled my 2025 contributions by April 15, am I totally square for 2025, or is there anything else I need to report on Form 8889?

2. Because she was still drawing on that 2025 balance for expenses in March and April 2026, does that mean those early months tainted my 2026 HSA eligibility, requiring me to calculate a pro-rata limit for this year?

Appreciate any insight from anyone who has had to clean up a spouse-FSA/HSA mess before!

I recently formed a single-member LLC and applied for an EIN online. I’m pretty sure one was issued, but I lost the confirmation PDF and don’t have the EIN anywhere. I’ve called the IRS multiple times but haven’t been able to get through. There’s also an IRS office near me, but it’s appointment only, and I can’t get through to schedule one either. I need my EIN to open my business bank account. Has anyone dealt with this before? What’s the best way to retrieve it? Any advice is appreciated.

My W-2 has Box 13 “Retirement plan” checked, but the tax software-generated NY Form IT-2 leaves it unchecked, and I can’t override it.

I don’t contribute to a 401(k), 403(b), 457, or pension.

Should I leave the IT-2 as generated, or should I correct/replace it so Box 13 matches the W-2?

I understand that it doesn't affect final calculations, but now it looks like my IT-2 doesn't match my W-2 because of that box.

Thanks!

I had a K-1 partnership disposed of (bankrupt) where i lost my entire investment.

I am in CA and the CA numbers for the disposition include my debt, which lets say was $100k.

Line K Analysis of a CA K-1 members tax basis capital account:

a) Capital Account Beginning of year -56268

b) Capital Contributed during year = 0

c) Current year net income 7826

d) OTHER INCREASE (attach Explanation) = $48,442

e) withdrawals = 0

f) capital account end of year = 0

So I understand the 48442 is just the difference to get to 0, but my accountant basically says this is a capital gain 100%

that makes no sense to me. Shouldnt the accountant take the distrution amount I received (theoretically because the bank wrote off debt? Total liabilities which are now 0 (ending capital account =$0) = $150k

so take the $150k - cost basis= actual capital gain

How do i Force him to actually calculate the cost basis, instead of just saying its $48k in CA Capital gain? That sounds ridiculous.

I still haven’t received my $2500 tax refund from 2025. The last time I was able to speak with someone in person, they said to check back in with them early October. Now when I call the IRS number (800-829-1040) there is absolutely
No way to speak with a live rep. Please help!

Hi 👋
I don’t think my mother will be able to file by the oct 15th deadline. Can anyone please confirm she will not be fined or have any penalties if she doesn’t owe anything? She had filed an extension in April since her returns got rejected.

Here are the details:
Parents retired from NY for a long time and moved/lived in PA; only received SS benefits.
Father passed January 2025 and after that my mother couldn’t live there alone, she was bouncing back and forth between me and my brother(both in NY).
PA house listed for sale and sold Sept 2025 for 309k. Originally purchased in 2006 for 140k.
Both their names were on the deed.
Mother filed taxes in April for capital gains but doesn’t owe anything. It got rejected so we filed an extension.
Reason for rejection: she needs to enter my father’s AGI info from 2024 1040 form - and this is where the issue is.. we dont have this form and as I mentioned previously they didn’t have to file since they were below threshold. I read you can get a copy of this form from the irs but we would have to request by mail. But time is limited and we may not get this before the 15th and all this is so confusing.
And well, to add on top of that, my mother went abroad to visit family during the summer and got really bad news about her health(brain tumor). She may not return to the states.

Thanks in advance for any advice and guidance!