One thing nobody's mentioned - don't forget about state filings for your S-corp! Depending on your state, you might need to file separate state returns for both your S-corp and personal taxes. TurboTax Business handles most state S-corp returns, but the process can be even more confusing than federal. Also, if you do business in multiple states or have nexus issues, self-filing gets complicated real quick. My S-corp operates in two states and I tried doing it myself last year... ended up giving up and hiring an accountant midway through.

I successfully filed both my 1120-S and 1040 myself using TurboTax for the past two years. As a single-member S-corp, it's definitely manageable, but here are some key things that helped me: The biggest challenge isn't the software - TurboTax does a good job with the guided questions. The real work is in preparation. Make sure you have your books reconciled properly before you start. I use QuickBooks and export my P&L and Balance Sheet directly, which saves tons of time. One mistake I made my first year was not keeping proper documentation for business expenses. The IRS wants to see business purpose for everything, especially for home office deductions and travel expenses. Now I keep a simple spreadsheet with receipts and business justification throughout the year. The reasonable compensation issue is real - I research industry salary surveys for my role and document my reasoning. Better to err on the side of paying yourself a bit more in salary than dealing with IRS scrutiny later. Overall, I save about $1,000 annually doing it myself, and I feel much more in control of my tax situation. Just budget extra time your first year and don't wait until the last minute!

As someone who started a small online service business last year, I can definitely relate to the confusion! One thing I wish I'd known earlier is that you should consider getting an Employer Identification Number (EIN) even if you're a sole proprietor. It's free to get directly from the IRS website and helps separate your business from your personal finances. Also, since you're in Florida, definitely look into getting a business license from your local county or city - requirements vary by location. Some areas require it for any business operating within their jurisdiction, even home-based ones. For payment tracking, I set up a separate business bank account and route all my business payments there. Makes it much easier to track income and expenses when everything is separated. Even if you use Venmo or PayPal, you can still transfer to a dedicated business account. One more tip - consider setting up a simple bookkeeping system from day one. I use a basic spreadsheet but there are also affordable options like Wave (which is free) or QuickBooks Self-Employed. Having organized records from the start will save you so much time and stress later!

Great question about starting your tarot business! I actually went through this exact situation when I launched my astrology consultation service on Instagram about 18 months ago. Here's what I learned: First, you absolutely need to report all income, even if it's just a side hustle. Since you're expecting to make $125-300 per week, you'll definitely hit the $400 threshold that requires self-employment tax filing. I'd recommend opening a separate business bank account right away - it makes tracking so much easier and looks more professional to clients. For Florida specifically, you'll need to register for sales tax since spiritual services are taxable there. The good news is the registration process is pretty straightforward through the Florida Department of Revenue website. You'll collect sales tax from Florida customers and remit it quarterly or monthly depending on your volume. One thing that really helped me was joining the Instagram Creator Program once I hit the requirements. It provides some additional tax documentation and can help legitimize your business in the eyes of both clients and the IRS. Also, start tracking your expenses from day one! Things like new tarot decks, crystals, candles for your reading space, ring lights for better video quality, Instagram ads to promote your services - all potentially deductible. Even a portion of your phone bill since you'll be using it for client communication. Good luck with your venture! The spiritual services market on social media is really thriving right now.

As someone who just went through this exact situation, I'd recommend sticking with your EIN. The identity protection benefit alone is worth it - you're not giving your SSN to every client you work with. The maiden name/married name issue is actually pretty straightforward. When you file your taxes, you'll use your married name on your 1040 form, but on Schedule C (where you report your business income), you'll list your business name as "Jane Smith DBA Jane Doe" (using your actual names obviously). The IRS sees this connection all the time. Since you already have the EIN set up and submitted one W-9 with it, I'd just continue using it consistently. It's actually more professional looking than an SSN on business forms. The only thing I'd suggest is making sure you update all your payment processors (PayPal, Stripe, etc.) to use the EIN instead of your SSN if you haven't already - learned that lesson the hard way! Don't overthink it - both are valid options, but the EIN gives you better privacy protection for your contracting work.

I was in almost the exact same situation when I started my consulting business! Got married, had to deal with the name change, and was super confused about EIN vs SSN. Here's what I learned: Stick with your EIN - it's actually the better choice for several reasons. First, you're not sharing your SSN with every client, which is a huge privacy win. Second, it makes you look more established and professional. Third, if you ever decide to form an LLC or corporation later, you'll already have the business infrastructure in place. The maiden name/married name thing is totally manageable. On your tax return, you'll use your married name on the main 1040 form, but on Schedule C you'll show your business as "Married Name DBA Maiden Name" and include your EIN. The IRS deals with this constantly - it's not unusual at all. Since you already submitted a W-9 with your EIN to the financial advisor, I'd recommend being consistent and using that same EIN for your new client too. Just make sure when you introduce yourself to the new client that you mention your business operates under your maiden name (which is on the EIN), even though you personally go by your married name. One tip: make sure all your payment processors (PayPal, Venmo, etc.) are updated to use your EIN instead of your SSN. This prevents any tax reporting mismatches down the road. You're actually in a good position having gotten the EIN - even if you end up finding permanent employment, you can always keep it for any future freelance work!

Wait wait wait I'm confused. You're saying you filed your 2023 taxes in December 2024? You do realize that was way after the deadline right?

I work as a tax professional and see this "RETURN NOT PRESENT" issue frequently. Here's what's likely happening: Your return passed TurboTax's initial validation checks (hence the "accepted" message), but it either got stuck in the IRS processing queue or was silently rejected for a secondary issue. The filing status showing "Head of Household" is just carry-over data from your previous year's return - it doesn't mean they received your 2023 return. My recommendations: 1. Call TurboTax and ask for your exact transmission confirmation number and timestamp 2. Request they verify the return actually left their system and wasn't caught in a transmission error 3. If TurboTax confirms transmission, you'll need to contact the IRS directly (I know it's difficult) 4. Consider filing a paper return as a backup, but mark it clearly as a duplicate to avoid processing delays Since you mentioned using their refund advance service, that adds another layer of complexity. The bank partner may have encountered an issue during their submission process. Definitely worth investigating that angle first. Don't panic - this is more common than you'd think, especially with late filings. It's frustrating but usually resolvable once you identify where the breakdown occurred.

Thanks for starting this discussion! I'm actually dealing with a very similar situation with my small business. I rent a storefront and have been paying through a property management company all year, but I got nervous when I saw some conflicting information online about 1099 requirements. Reading through everyone's responses here has been really helpful - it sounds like the consensus is that when you pay through a management company, they handle the 1099-MISC reporting to the actual property owner, not the tenant. That's a relief! I do have one follow-up question though: Does it matter if the lease agreement is signed with the property owner directly, but payments are made to the management company? My lease shows the owner's name but all my rent checks go to "[Property Management Company] on behalf of [Owner's Name]". Just want to make sure this doesn't create any weird reporting obligations for me. Also really appreciate the advice about keeping detailed records. I've been pretty good about saving my cancelled checks but hadn't thought about keeping copies of lease communications - will definitely start doing that going forward!

This thread has been incredibly helpful! I'm actually an accountant who works with a lot of small business clients, and I see this confusion about 1099-MISC requirements for commercial rent come up constantly. Just to reinforce what others have said - when you pay rent through a property management company, you are NOT responsible for issuing 1099-MISC forms. The management company handles that reporting to the property owner. This is true even if your lease is directly with the owner but payments flow through the management company. However, I do want to emphasize something that was touched on earlier: if you pay rent DIRECTLY to an individual property owner (not a corporation) and the total exceeds $600 per year, then yes, you would need to issue a 1099-MISC. Always collect a W-9 form from individual landlords at the start of your lease to get their tax information. For your business tax return, you can deduct the rent expense regardless of whether a 1099-MISC is issued or required. Just maintain good documentation of your payments as several people mentioned - this is crucial for supporting your deduction. One last tip: if you're ever unsure about your specific situation, consider having your lease agreement reviewed by a tax professional. Commercial leases can have complex structures that might affect how you categorize different payment components for tax purposes.