Has anyone used the laptop depreciation feature in QuickBooks? I can't figure out how to set it up properly and their help docs are useless.

I went through this exact same confusion when I started my consulting business! One thing that really helped me was understanding the difference between business use percentage - if you use the laptop for both personal and business purposes, you can only depreciate the business portion. So if it's 80% business use, you'd only depreciate 80% of the cost. Also, don't forget to keep good records of when you started using it for business (that's your "placed in service" date for depreciation purposes). And if you're just starting out, definitely talk to a tax professional about whether Section 179 or regular depreciation makes more sense for your specific situation - it can really depend on your expected income levels. The QuickBooks setup isn't too bad once you get the hang of it, but like others mentioned, you might want to track the depreciation calculations separately and just enter the annual amounts as journal entries.

Just wanted to add my experience as someone who recently went through this process! Like others have mentioned, the PTIN itself is just a registration - no test required. But I did complete the Annual Filing Season Program afterward and found it really valuable. One thing that helped me a lot during my AFSP studies was creating a study schedule that focused on one topic per week rather than trying to cram everything. I spent extra time on the areas that Giovanni mentioned - especially basis calculations and rental property rules. Those seem to trip up a lot of people. Also, don't underestimate the importance of understanding client communication and professional standards. Even though you're not taking a test for the PTIN, once you start preparing returns professionally, you'll need to know things like due diligence requirements, recordkeeping obligations, and when you're required to advise clients about potential penalties or issues. The IRS has some free webinars throughout the year that are really helpful for staying current. I'd recommend signing up for those even before you officially start preparing returns. Good luck with your career transition - it's been really rewarding for me!

Carmen, you've gotten such great advice here! I went through a similar panic when I first started in tax prep a few years ago. Just to add one more perspective - even though the PTIN itself doesn't require a test, I'd strongly recommend treating your preparation like you ARE studying for an exam. What I mean is: even though you can technically start preparing returns with just the PTIN registration, you really want to be confident in your knowledge before touching anyone's actual tax return. Mistakes can be costly - both for your clients and for your reputation as a new preparer. I'd suggest picking up a good tax preparation course or textbook (like the ones used for AFSP prep) and working through it even if you're not planning to take that test right away. This will give you the solid foundation you need to prepare returns competently and help you decide if you want to pursue additional credentials later. Also, consider starting with simpler returns your first season - maybe focus on W-2 wage earners without a lot of complications. You can gradually take on more complex situations as you gain experience and confidence. Many successful preparers build their practices this way rather than trying to handle everything from day one. You've got a good accounting background, so you're already ahead of many people entering this field. Trust your instincts and don't be afraid to refer clients to more experienced preparers when you encounter situations beyond your current knowledge level. That's actually a mark of professionalism, not weakness!

I got Notice 1462 about 5 weeks ago and I'm still in the waiting game too. From what I've gathered from this thread and my own research, it seems like the IRS is being extra cautious this year with fraud prevention, which is causing a lot of these delays. Mine was probably triggered because I had some side income from selling things online that I reported as miscellaneous income. The hardest part is the uncertainty - you never know if it'll be resolved in a few more weeks or drag on for months. I've been checking my transcript every Friday morning with my coffee, which has become a weird ritual at this point! One thing that's helped me mentally is remembering that the IRS isn't trying to keep our money - they're just overwhelmed and being super thorough. Hang in there everyone, we'll get through this eventually! 💪

I received Notice 1462 about 4 weeks ago and wanted to share my experience so far. Like many others here, I think mine was triggered by claiming the Child Tax Credit for my two kids. The notice itself is pretty vague - just says they need additional time to process my return and to allow 60 days for completion. I've been checking my transcript weekly (Sundays have become my check day!) and so far no changes. What's been most helpful is reading everyone's experiences here - it's reassuring to know this is happening to a lot of people and isn't necessarily a red flag. I called once after waiting 2.5 hours on hold, only to be told exactly what the notice said. Won't be doing that again! For anyone just getting their notice - try to stay patient, set up your IRS online account to check transcripts, and don't drive yourself crazy checking daily. This community has been a huge help for keeping me sane during the wait! 🙏

I've been with Chime for over 2 years and can definitely confirm they process deposits on weekends! My tax refund last year hit on a Saturday around 10:30 AM when my DDD was for the following Tuesday. What I've learned from multiple tax seasons is that the IRS usually sends refunds 24-48 hours before the official DDD. So with your 5/26 date, there's a really good chance they'll release it Thursday 5/24 or Friday 5/25. Once Chime gets it, it posts almost immediately - I've never had to wait more than an hour or two. The weekend processing is honestly a huge advantage over traditional banks. My sister uses Wells Fargo and always has to wait until Monday even when her refund gets sent on Friday. I'd definitely keep checking your account Saturday and Sunday mornings - that's when most of my weekend deposits have appeared. Hope you see yours early!

I've been using Chime for my tax refunds for about a year and a half now, and I can absolutely confirm they process deposits on weekends! Just this past tax season, my refund hit my account on a Sunday morning around 9 AM when my DDD wasn't until Tuesday. The key thing I've learned is that Chime processes deposits as soon as they receive them - literally 24/7/365. The real variable is when the IRS actually sends the funds, which in my experience has been 1-2 days before the official DDD. With your DDD of 5/26, I'd expect the IRS to release it either Thursday 5/24 or Friday 5/25. One tip I'd share as someone who's been through this waiting game multiple times - check your account early Saturday and Sunday mornings. Most of my weekend deposits have appeared between 8-11 AM. The early deposit feature is honestly one of the main reasons I stick with Chime instead of going back to a traditional bank. Hope you see your refund early! The weekend processing really is a game-changer compared to having to wait until Monday like with most other banks.

I went through this exact situation about 8 months ago after using a hardship withdrawal for emergency HVAC repairs. The audit initially stressed me out, but it ended up being much more straightforward than I expected. Here's what worked for me: I gathered everything I could find (main contractor invoice, some receipts, bank statements) and created a simple timeline showing the emergency, withdrawal date, and how funds were spent. For the cash payments I couldn't fully document, I included ATM withdrawal records that aligned with the work dates and wrote brief explanations. The key thing I learned is that they're looking for reasonable evidence of legitimate use, not forensic accounting. Your roof repair situation is exactly what hardship withdrawals are designed for, and having that main contractor invoice gives you a solid foundation. Don't panic about the cash payments and scattered receipts - focus on telling the complete story of what happened and why you needed the funds. Include photos of the damage and completed work if you have them. Most employers approve these audits when they can see genuine hardship and reasonable documentation of how the money was used.

I'm dealing with a 401k hardship withdrawal audit right now too, and this thread has been incredibly helpful! My situation is for emergency medical expenses, but the documentation challenges are similar. One thing I discovered that might help is checking if you have any text messages or emails from around that time period. I found texts with my contractor about scheduling and payment, plus emails with suppliers about material deliveries. Even though these aren't formal receipts, they help establish the timeline and show legitimate business relationships. Also, if you used any ride-sharing services or had food deliveries during the repair period (workers often mean more trips to get supplies or meals), those app records can sometimes help support your timeline and show increased activity around your home during the repair period. Your roof repair is such a clear-cut legitimate hardship - storms, insurance issues, necessary repairs. The fact that you have the main contractor invoice puts you in a really strong position. I think following everyone's advice about creating that organized summary with a clear timeline will make all the difference. Don't let the perfect be the enemy of the good here. You used the money exactly as intended, and that genuine use will show through even with imperfect record-keeping!