Anyone else just keep everything forever because they're paranoid? Lol. I have tax records going back to my first job in 2002 😂 My spouse thinks I'm crazy but I've seen too many horror stories of people getting randomly audited for stuff from 6+ years ago!

I've been dealing with this exact same situation! After years of hoarding every piece of tax-related paper, I finally developed a system that works. Here's what I learned from my CPA and some trial and error: **Basic rule**: 3 years for most stuff, but keep these longer: - Investment records (stocks, bonds, crypto): Until 7 years after you sell - Property records: Forever (or until 7 years after you sell) - Business/self-employment records: 7 years - Records supporting permanent disabilities or retirement contributions: Forever **My purging strategy**: I go through my files every January and create three piles: 1. "Safe to shred" (older than 3-7 years depending on type) 2. "Scan and shred" (stuff I want digital copies of) 3. "Keep physical" (property deeds, some investment docs) The key is being systematic about it. I was amazed how much space I freed up once I actually followed the IRS guidelines instead of just keeping everything "just in case." You'll probably find that 80% of what you're keeping can safely go! Pro tip: Before you toss anything, take a photo with your phone of documents you're unsure about. That way you at least have something if you realize later you needed it.

Has anyone tried calling the IRS Identity Protection Specialized Unit at 800-908-4490? I had to do this last year when I lost my PIN and they were able to help me verify my identity to efile.

I went through this exact same frustration last year! Here's what worked for me without having to wait on hold with the IRS: First, try the AGI method that others mentioned - it's definitely the easiest if you can find your 2023 tax return. But if you're like me and had moved/lost everything, here's a backup plan: You can create an account on IRS.gov and use their "Get Transcript Online" tool. They'll ask you some identity verification questions (like previous addresses, loan amounts, etc.) and if you pass, you can immediately see your prior year AGI. I was able to do this at 11 PM when I was panicking about my deadline. If the online verification doesn't work, you still have options before resorting to paper filing. Some tax software will let you print and mail just the signature pages while still preparing everything electronically, which can speed up processing compared to a fully paper return. The key thing is don't stress too much - you have multiple paths to get this resolved and it shouldn't significantly delay your refund as long as you can verify your identity one way or another. Good luck getting it sorted this weekend!

After struggling with this exact issue last filing season, I found that the IRS Interactive Tax Assistant (www.irs.gov/help/ita) has a specific tool called "Who Can I Claim as a Dependent?" It walks you through all the requirements step by step. In my case, I was able to claim my disabled brother (32) even though my parents provided some support. The key was documenting that I covered over 50% of his total support costs. I created a spreadsheet tracking every expense, including a portion of my mortgage, utilities, food, medical costs not covered by insurance, and transportation. Make sure to print and save this documentation in case of audit.

As someone who went through a similar situation with my disabled adult child last year, I can confirm what others have said about documentation being absolutely critical. One thing I didn't see mentioned is that you should also check if your sister qualifies for the disabled dependent credit in addition to the regular dependency exemption. Since you mentioned she's 30 and disabled, she might qualify for this additional benefit if she's permanently and totally disabled. Also, make sure to factor in the fair market rental value of the room she occupies in your house - this is often the largest single support item and can easily push you over the 50% threshold. I used Zillow's rental estimates for comparable rooms in my area to calculate this. The IRS accepts reasonable estimates as long as you can justify your methodology.

Quick question - I know LLCs are supposed to have separate business bank accounts, but we've occasionally used our personal accounts for business expenses (and tracked them). Is this going to cause problems with our LLC tax filing? We've kept good records but I'm worried about mixing funds.

As someone who went through this exact situation with my multi-member LLC last year, I can tell you it's definitely more complex than single-member LLCs but totally manageable once you understand the basics. Here's what I wish I knew from the start: Your LLC will file Form 1065 (partnership return) by March 15th, which is earlier than personal tax deadlines. This form doesn't result in taxes owed by the LLC itself - it's purely informational. The LLC then issues K-1s to you and your brother showing each person's share of income, deductions, and credits. A few key points for your situation: - Those "draws" you took aren't salary and aren't deductible business expenses - You'll both likely owe self-employment tax (15.3%) on your share of profits - Make sure your operating agreement clearly documents the 60/40 split - Start making quarterly estimated payments if you haven't already For deductions, construction businesses can typically write off vehicle expenses, tools, equipment depreciation, materials, insurance, and sometimes home office if you use part of your home for business admin. The good news is your $35k profit ($87k revenue minus $52k expenses) split 60/40 means manageable tax obligations. Just make sure you're both setting aside money for taxes since nothing was withheld during the year!

Has anyone used the IRS's online EIN application system recently? Is it still working on weekends? We need to get our partnership W9 out by Monday morning and I'm wondering if we can apply for the EIN on Sunday or if we need to wait until Monday.

Just went through this exact same situation with my consulting partnership about 6 months ago! A few additional tips that might help: When you apply for the EIN online, make sure you have all your partnership details ready - they'll ask for the names and SSNs of all partners, your business address, and the date you started the partnership. The process is really straightforward but having everything organized beforehand makes it even faster. One thing I wish someone had told me: after you get your EIN, it can take a few weeks for it to fully propagate through all the IRS systems. This usually doesn't affect basic W9 submissions, but if you need to set up business bank accounts or apply for business credit cards right away, some institutions might have trouble verifying your new EIN immediately. Not a huge deal, but just something to be aware of. Also, once you complete that first W9, save it as a template! You'll probably need to submit W9s to multiple clients over time, and having a completed version makes future submissions much quicker. Good luck with your new partnership!