Just want to add something that hasn't been mentioned yet - make sure you consider workers' comp insurance regardless of which tax exemptions apply. Many states require it even for household employees, and the parent exemption for FUTA/FICA doesn't necessarily exempt you from state workers' comp requirements. We learned this the hard way when we hired my mom as a nanny. We correctly handled the federal tax exemptions but completely missed that our state still required workers' comp coverage. Had to pay some penalties to get that straightened out.

This is a really helpful thread! I'm dealing with a similar situation but with my husband's father potentially helping with our kids. Based on what everyone's shared, it sounds like the biological relationship is key for the parent exemption. One question I haven't seen addressed - does the exemption still apply if the parent is receiving Social Security benefits? I've heard conflicting information about whether that affects the FICA exemption for household employees. Want to make sure we're not missing anything before we set up the EIN and payroll. Also, @Debra Bai, your point about workers' comp is spot on. We almost missed that requirement too when researching this. Definitely worth checking your state's specific requirements since they can vary a lot from the federal tax rules.

I've used Dave for two years now. Last year my refund took 3 business days after TPG showed funded, this year it took 4 business days. I'm starting to think these "early deposit" banks aren't really any faster than traditional banks for tax refunds specifically. Regular paychecks come early, but tax refunds seem to follow a different process. I'm watching this thread because I'm considering switching banks next year if others have better experiences elsewhere.

I'm going through the exact same thing right now! Filed 2/5, accepted 2/6, TPG funded 2/21, and still nothing in my Dave account as of today (2/27). I've called Dave three times and they keep saying no pending deposits, but reading everyone's experiences here is actually really reassuring. It sounds like 3-5 business days after TPG funding is normal, even though Dave's marketing makes it sound like we should get it immediately. I'm going to wait until Friday before panicking, but this is definitely my last year using Dave for tax refunds. The stress isn't worth the supposed "early" deposit that apparently isn't even early! Thanks everyone for sharing your timelines - it helps to know this is normal even if it's frustrating.

Something else to consider - if you're expecting to have HDHP coverage for the full year in 2026, you might want to use the "last-month rule" (also called the "full-contribution rule"). This lets you contribute the FULL annual limit even if you didn't have HDHP coverage for the entire year, as long as you're covered on December 1st and remain covered for the following 12 months.

Just wanted to add another perspective on handling HSA excess contributions - I went through this exact situation last year and learned a few things that might help. First, when you contact your HSA provider to request the excess contribution withdrawal, make sure to ask them to calculate the "net income attributable" (NIA) to your excess contribution. This is crucial because you need to withdraw both the excess amount AND any earnings on that excess. If your HSA investments lost money, the NIA could actually be negative, meaning you'd withdraw slightly less than the excess contribution amount. Second, timing matters a lot here. You mentioned you're using TurboTax - if you haven't filed yet, you're in good shape. You can make the correction and then file your return normally. But if you've already filed, you might need to file an amended return depending on when you make the correction. Also, keep detailed records of everything - your HSA provider's calculation of the excess, the withdrawal confirmation, and any correspondence. The IRS can be picky about HSA corrections, and having good documentation makes everything smoother if they ever ask questions. One last tip: consider setting up automatic contribution limits in your payroll system for next year to prevent this from happening again, especially now that you know cash-back rewards count toward your limit.

Wait, I'm confused about something basic here. Does the IRS even know about crypto you mine if there's no market for it? Like, if nobody reported anything anywhere, how would they even know you had it?

I've been through a very similar situation with pre-market crypto mining, and honestly it's one of those areas where the IRS guidance is frustratingly vague. From my experience dealing with this exact scenario, here's what worked for me: I used the cost-of-production method that Fatima mentioned - tracked all my electricity costs, equipment depreciation, and even internet costs related to mining. The key is being able to justify your methodology with real documentation. I kept spreadsheets of my monthly mining costs and the tokens received each month. For your friend's purchase, I'd treat that as a separate capital gains event using your mining cost basis. The fact that he wanted to buy them does suggest some value, but a single private transaction between acquaintances isn't really an "open market" in the traditional sense. One thing I learned the hard way - make sure you're consistent with your approach across all your crypto activities. If you use mining costs as FMV for this token, use similar logic for any other pre-market mining you might have done. The IRS loves consistency and hates when taxpayers cherry-pick methods that minimize taxes. Also, definitely keep records of when the actual market launched and any price differences between your friend's purchase and the eventual market price. That could be important for establishing that your original valuation method was reasonable.

This happened to me too! Check if you completed Form 8606 for non-deductible IRA contributions. It's super important to file this form every year you make non-deductible contributions, otherwise you might end up paying taxes twice on that money.

This is a really common confusion! At your income level with workplace retirement plan coverage, you're likely hitting the Traditional IRA deductibility phase-out limits that others mentioned. One quick way to verify this: look at Line 20 on your Form 1040 (Traditional IRA deduction). If it shows $0 or less than $6,500, then your contribution wasn't fully deductible due to income limits. Since you made a non-deductible Traditional IRA contribution, you absolutely need to file Form 8606 to track your basis in the account. This is crucial for avoiding double taxation when you eventually withdraw. Given your income level, you might want to consider doing a backdoor Roth IRA conversion instead. You'd contribute to Traditional IRA (non-deductible), then immediately convert to Roth. This way you get the tax-free growth benefit of a Roth IRA despite being over the income limits for direct Roth contributions. Your $930 tax reduction ($1,200 - $270) makes perfect sense if only the $3,000 capital loss was deductible. At roughly 24% marginal rate, that's about $720 in tax savings, which aligns with what you're seeing.