has anyone used TurboTax for handling multi-state work situations? does it handle this well or should i look for a tax professional? got a similar situation working from florida (home) but spent 3 weeks working from ny last year.

This is a really nuanced area that trips up a lot of remote workers! From what I've researched, California does have some of the strictest rules about this. They generally require non-resident tax filings if you're working there temporarily, but there are thresholds to consider. The key thing is that California considers any work performed within their borders as California-source income, regardless of where your employer is based. However, they do have a threshold - I believe it's around $1,000 in California-source income or working there for more than a certain number of days before you're required to file a non-resident return. For your situation, definitely keep detailed records of which days you work while in California versus days you take off. You might also want to consider structuring your trip so that you take actual vacation days while there and do your work before/after the trip to avoid the complexity altogether. One more tip - check if Wyoming has any reciprocity agreements with California that might simplify things, though I don't think they do since Wyoming doesn't have state income tax to begin with.

Does anyone have a good system for tracking affiliate income from multiple sources? I'm using 4 different networks and I'm terrible at keeping records.

Great question! I was in a similar situation when I started affiliate marketing. Here are the key things I learned: **Quarterly Payments**: Yes, you definitely need to make quarterly estimated tax payments since you're earning over $1,000 annually from self-employment. The due dates are January 15, April 15, June 15, and September 15. Calculate roughly 25-30% of your net profit and divide by 4. **Forms You'll Need**: - Schedule C (business profit/loss) - Schedule SE (self-employment tax) - Form 1040ES for quarterly payments **Deductions**: You can absolutely deduct legitimate business expenses like your home office (percentage of square footage used exclusively for business), laptop, internet costs, software subscriptions, and any marketing/advertising expenses. **Record Keeping**: This is crucial! Set up a separate business checking account and track everything. Many affiliate networks will send 1099-NEC forms if you earn over $600, but you're required to report ALL income regardless. The self-employment tax (15.3%) on top of regular income tax can be shocking at first, but remember it's calculated on your NET profit after all business deductions. Keep detailed records and consider meeting with a tax professional for your first year to make sure you're set up correctly from the start!

As a fellow business owner who went through the sole prop to S-Corp conversion, I completely understand your confusion! The basis tracking was one of the most challenging aspects for me to grasp initially. One thing that really helped me was setting up a simple tracking system right from the start. I created a basic spreadsheet with columns for: - Starting basis (what I contributed during conversion) - Monthly income additions (from my K-1) - Distributions taken - Running balance The key insight for me was realizing that as a single-owner S-Corp, you're essentially managing your own "equity account." Every dollar of profit the business makes increases your basis (even though you pay taxes on it), and every distribution you take reduces it. I'd also recommend getting clarity on your conversion basis ASAP. When I converted, I had to determine the fair market value of assets transferred minus any liabilities. This became my starting point for all future calculations. Don't feel bad about your accountant being too busy - it's unfortunately common. But getting this right is crucial for avoiding tax complications down the road. Take the time to understand it now rather than scrambling during tax season!

I went through this exact same situation when I converted my consulting business from sole prop to S-Corp about 18 months ago. The basis tracking seemed overwhelming at first, but once I got the hang of it, it became much more manageable. Here's what I wish someone had told me from the beginning: Start with your conversion date and figure out exactly what you contributed to the S-Corp. For me, this included cash in the business bank account, equipment (at depreciated book value), accounts receivable, minus any business debts I transferred over. That gave me my starting basis. Then it's really just addition and subtraction from there. Every month when I review my books, I add any profits the business earned (even if I leave them in the company) and subtract any distributions I took out. The key thing that confused me initially was that S-Corp profits increase your basis immediately when earned, not when you actually take the money out. I keep a simple one-page worksheet that I update monthly. It has saved me so much stress and gives me confidence that I can take distributions without creating unexpected tax consequences. Your future self will thank you for getting this system set up now rather than trying to reconstruct it later!

One more thing to consider - state taxes! Depending on which state you last lived in, you might still be considered a resident for state tax purposes even while living abroad. Some states are SUPER aggressive about keeping you as a tax resident (looking at you, California and New York). Make sure you properly terminate your state residency before moving abroad. This usually means getting rid of state driver's license, voter registration, bank accounts, etc. I didn't do this properly when I moved to Singapore and ended up owing CA taxes for 2 years until I fixed my residency status!

This is such a helpful thread! I'm in a similar situation but working in Germany. One thing I'd add - make sure you understand the timing of when you can start claiming the Foreign Earned Income Exclusion. You need to qualify for either the bona fide residence test OR the physical presence test for the specific tax year you're claiming it. The physical presence test requires 330 full days outside the US in any 12-month period, but it doesn't have to align with the calendar year. So if you just moved to China, you might not qualify for the full exclusion in your first tax year depending on when you arrived. Also, Hugo, since you mentioned your income will be around $45,000 USD equivalent, you'll likely be able to exclude all of it under the FEIE (the limit is $120,000 for 2025). But definitely keep good records of your days in/out of the US and your Chinese tax payments just in case you need them later! The investment income advice from Nasira is spot on - those dividends and capital gains will still be taxable in the US regardless of the FEIE.

Pro tip from someone who works in banking: SBTPG and other refund transfer companies make money by holding onto funds as long as possible while staying within their agreement terms. They're technically allowed to hold for up to 5 business days. Next year, avoid the whole SBTPG situation by paying your tax prep fees upfront instead of from your refund. Then you can direct deposit straight to any account without the middleman delay.

This is exactly why I switched to a different approach this year. I was tired of SBTPG holding my refund hostage every tax season. The uncertainty and delays just aren't worth it when you need the money for important expenses like your car repairs. Have you considered setting up direct deposit with your bank for next year instead? Even if it means paying prep fees upfront, at least you know exactly when your refund will hit your account once the IRS processes it. In the meantime, hang in there - based on what others are saying, it sounds like your funds should show up in the next day or two!