Protip: Make sure ur using the RIGHT tax year when checking. I was being a 🤡 and checking 2024 instead of 2023 lmaooo

I had the same issue with MI last month! Turned out my return was still in "processing" status even though it had been weeks. The state website doesn't update until it's fully processed, unlike the federal system. You might want to try calling their automated line at 517-636-4486 - sometimes it gives you more info than the website does. Hang in there, it's frustrating but normal this year!

Make sure you understand the difference between tax WITHHOLDING and actual tax LIABILITY. If you reduce withholding too much, you'll just owe a big payment when you file your taxes next year. My brother thought he was "smart" by claiming a bunch of allowances on his old W4, then got hit with a $7k tax bill plus penalties. Just be careful!

Based on your numbers, you're definitely having too much federal tax withheld. With $3100 weekly gross pay and the deductions you mentioned (10% 401k + $280 health insurance), your federal withholding should be closer to $350-380 per week, not $450. Here's what I'd recommend: Use the IRS Tax Withholding Estimator first to get a baseline, then fill out a new W4. Since the 2020 W4 doesn't use allowances anymore, focus on Step 4(c) - enter a negative amount to reduce your weekly withholding. Based on your situation, try "-70" to reduce federal withholding by $70 per week. Also double-check your pay stub for any other deductions you might have missed - sometimes there are small items like disability insurance or union dues that add up. And make sure your filing status on the W4 matches what you'll actually file (single vs married). The key is finding the sweet spot where you get more take-home pay now without owing a big tax bill next April. Start conservative with the reduction and adjust if needed.

Has anyone else noticed that TurboTax doesn't seem to handle this situation correctly? When I entered my state refund this year, it automatically included it as taxable income even though I was over the SALT cap last year. I had to manually override it.

This is a really common confusion point, and I went through the same thing last year! The key insight that helped me was understanding that the SALT cap essentially creates a "buffer" for state tax refunds. Here's how I think about it: If you paid $12,500 in state taxes but could only deduct $10,000 due to the SALT cap, then you effectively got "no tax benefit" from $2,500 of what you paid. Since your refund ($1,800) is less than this "no benefit" amount ($2,500), the entire refund should be non-taxable. I'd suggest double-checking this with the IRS directly or getting a second opinion from another tax professional. Sometimes tax preparers don't fully account for how the SALT limitation interacts with the standard state refund worksheet. The worksheet by itself can be misleading in SALT cap situations. One thing that helped me was looking at IRS Publication 525, which has specific guidance on this interaction. It's worth reviewing that section with your tax preparer to make sure you're both on the same page about how to handle it.

I found this useful: https://www.youtube.com/watch?v=yxZTurnqCNg

I found this useful to file taxes on prop account payouts: https://www.youtube.com/watch?v=yxZTurnqCNg

Sorry but most of these comments are missing something crucial - the LLC aspect. How your LLC is taxed makes a BIG difference here! If you're a single-member LLC taxed as a sole proprietor, that's different than if you elected S-Corp taxation. With S-Corp taxation, if you buy the truck personally and use it for business, you need to be very careful about reimbursements to avoid it being considered a taxable fringe benefit to you as the employee/owner. I learned this the hard way and ended up with a mess to fix. Before you do anything, you should clarify your LLC's tax election status. Makes a huge difference in the right approach.

Great point about LLC tax elections! Since you mentioned launching your LLC last year, you likely defaulted to single-member LLC taxation (disregarded entity), which means vehicle expenses flow through to your personal Schedule C. This actually simplifies things compared to S-Corp situations. For your aquatic training business, I'd lean toward purchasing the truck through the LLC and claiming actual expenses rather than mileage. Given that you're hauling heavy equipment (tanks, compressors, etc.) to remote locations, you'll likely have significant wear and tear that exceeds what the standard mileage rate covers. Since you already have a personal vehicle, documenting 100% business use should be manageable. Just keep that detailed log everyone mentioned, and consider taking photos of the truck loaded with your gear at different training sites. The IRS is more accepting of 100% business use when there's a clear business necessity and you have a separate personal vehicle. One more thing - don't forget to factor in the business use percentage of your truck insurance into your decision. That alone might make the actual expense method more beneficial than mileage for your situation.