This might sound dumb, but I've found that the easiest way to check YTD accuracy is to just add up all your paystubs manually. Companies mess this up more than ppl realize. At my last job, the YTD on my stub was wrong for 3 months and nobody noticed until I pointed it out! They had a system change and some paychecks weren't being counted in YTD.

Dylan, looking at your numbers, I think the mystery might be simpler than you think. You mentioned getting a "small bonus" when you started - that's almost certainly what's throwing off your calculation. If your YTD shows $13,541.65 and your regular pay is $2,708.33 per paycheck, then: $13,541.65 ÷ $2,708.33 = 5.0 exactly This means your YTD includes exactly 5 "paycheck equivalents" worth of income. Since you said you've only received 4 regular paychecks, that extra $2,708.33 is likely your sign-on bonus. Even if the bonus seemed "small" to you, it might have been grossed up for taxes (meaning they paid extra to cover the tax burden), or there could have been other compensation included like relocation assistance, referral bonuses, etc. Check your very first paystub of the year - you'll probably see the bonus listed there as a separate line item, but it's still included in your gross pay and YTD calculations. That would explain why your math is off by exactly one paycheck amount.

Don't forget about depreciation if you go with actual expenses method! That's often the biggest benefit compared to standard mileage, especially in the first few years of a newer vehicle. But remember depreciation reduces your basis in the vehicle which matters when you sell it later.

Great question! I went through this same confusion when I started my freelance marketing business. One thing that really helped me was creating a simple spreadsheet to track my business vs personal miles each month. I use my phone's GPS history to double-check my estimates - it's surprisingly accurate for reconstructing trips. For the 60% business use you mentioned, just make sure you can back that up with records. The IRS likes to see documentation like client appointment calendars, receipts from supply runs, and a mileage log. I learned this the hard way during a small audit last year - they wanted to see actual proof of my business driving patterns, not just my estimates. Also, don't forget that if you work from a home office, trips from your home to clients or suppliers typically qualify as business miles. But commuting from home to a regular workplace generally doesn't count as business use, even if you're self-employed.

Just wanted to add my experience since I went through this exact situation last year. The premium tax credit repayment can be stressful, but the repayment is actually capped based on your income level unless you're above 400% of the Federal Poverty Level. For 2024, if you're single and your MAGI is under around $58,320 (400% FPL for a single person), you won't have to repay the full amount - there are caps based on your income bracket. With just being $450 over your estimate, you're probably looking at a very small repayment or possibly none at all.

I've been helping people with premium tax credit issues for years, and your situation is actually pretty common! Being $450 over your projection is really not bad at all. Here's the key thing everyone's trying to explain about MAGI - think of it this way: Start with your gross income, subtract things like 401k contributions and health insurance premiums (if they come out pre-tax), and that gets you closer to your MAGI. The exact calculation can be tricky, but for most people, MAGI is somewhere between their gross income and their take-home pay. With only a $450 difference, you're likely looking at owing back very little or possibly nothing. The repayment caps are designed to protect people from huge surprise bills. Even if you do owe something back, it would probably be under $100 based on your income increase. Don't stress too much about this - the system is set up to avoid penalizing people for small estimation errors. When you file your taxes, Form 8962 will walk you through the reconciliation process step by step.

Don't forget about the Qualified Business Income Deduction (Section 199A)! As a martial arts instructor with your own business, you likely qualify for this. It lets you deduct up to 20% of your qualified business income, which can significantly reduce your taxable income. So if your profit after expenses is $5000, you might be able to take another $1000 off your taxable income with this deduction. It's on Form 8995. Lot of small business owners miss this!

Great advice from everyone here! As someone who also operates a small martial arts business, I'd add a few practical tips for Mateo: 1. **Keep detailed records NOW** - Don't wait until next tax season. Track every business expense, no matter how small. I use a simple spreadsheet with columns for date, amount, description, and category. 2. **Separate business and personal expenses clearly** - Even though you're using your SSN, treat this as a legitimate business. If you buy equipment that you also use personally, only deduct the business portion. 3. **Consider quarterly estimated tax payments** - With $8400 in profit, you'll owe self-employment tax plus income tax. The IRS expects you to pay as you earn, not just at year-end. Use Form 1040-ES to calculate and avoid underpayment penalties. 4. **Document your business use of home** - If you use part of your home for business planning, storing equipment, or administrative work, you might qualify for the home office deduction. Measure the square footage and keep records. The 1099-K can be intimidating the first time, but once you understand that it's just a reporting document and not necessarily your exact taxable income, it becomes much more manageable. You've got this!

I can relate to your stress about that confusing message! I received the exact same notification from Input Correction ERS/Rejects about 6 weeks ago and had the same panic thinking they denied my refund. But "return closed" actually means they completed whatever review or correction was needed on your return - it's good news, not bad! The ERS department handles returns flagged for manual review, so this message indicates they resolved the issue and your return is moving forward in the system. The late night timing (8:59 PM) is completely normal - their automated system processes these updates 24/7 whenever they finish reviewing cases. I ended up getting my refund deposited 9 days after receiving that message. Since they specifically said not to respond, just don't reply and keep checking Where's My Refund every few days. Your refund should show up within the next week or two! 🙏💰

Hey Chloe! I totally get why you're freaking out - that message is super confusing and scary when you first get it. But honestly, you can breathe easy now! I got that exact same "return closed" message from Input Correction ERS/Rejects about a month ago and was having a full panic attack thinking they denied my refund. Turns out it's actually GOOD news! When they say "closed the return" they mean they finished fixing whatever issue was holding up your return - not that you're denied. The ERS team (Error Resolution System) handles returns that need manual review or corrections. So this message basically means "we found the problem, we fixed it, and now your return can move forward for processing." The 8:59 PM timing is totally normal too - their system sends these automated updates whenever they complete their review, even super late at night. Mine came at like 11:30 PM and I thought that was sus too lol. I ended up getting my refund deposited exactly 13 days after getting that message. Don't reply since they said not to - just keep checking Where's My Refund every couple days and your bank account. Your money is definitely coming! The waiting sucks but you're actually in the home stretch now 💰🙏