One thing nobody's mentioned - you might be able to avoid this issue entirely in the future by using Venmo Business Profile instead of a personal account. It charges a small fee but it's specifically designed for business transactions and gives you better record-keeping options.

Just want to add my perspective as someone who went through this exact situation! I'm a freelance web designer and made the same mistake using personal Venmo for client payments in my first year. I was panicking about whether I could deduct my subcontractor expenses. The good news is that you're totally fine to claim these as business expenses. The IRS cares about the substance of the transaction, not the payment method. Keep your Venmo records showing the business purpose in the payment descriptions, and consider creating a simple spreadsheet that lists each payment with details about what work was performed. One tip that really helped me - I went back and asked each freelancer to send me a brief email confirming what services they provided and when. This created additional documentation beyond just the Venmo transactions. It was awkward to explain but everyone was understanding once I said it was for tax compliance. Also definitely switch to Venmo Business or a proper business bank account going forward. The fees are worth it for the cleaner record-keeping and professional appearance. You've got this - it's a common mistake and easily fixable!

Mine said funded yesterday. Got it today! At 2am. Woke up to the notification. Paying off my credit card. Then saving the rest. First time getting a decent refund.

Congratulations on your first post-graduation refund! I totally understand the nerves - that waiting period between "funded" and actually seeing the money is anxiety-inducing. From what I've experienced and seen here, most people get their deposits within 1-2 business days after SBTPG shows funded. Since it's showing today, you'll likely see it by Tuesday or Wednesday at the latest (assuming your bank processes over the weekend). As for what to do with it - sounds like you're already thinking responsibly! I'd suggest maybe splitting it: emergency fund first, then maybe a small "graduation celebration" purchase, and the rest toward student loans or building your credit history. What field did you graduate in? Sometimes there are professional development investments worth considering too. Keep us posted when it hits your account - we're all rooting for you! 🎓

Don't forget you can also potentially deduct a portion of your cell phone bill since you need it for the app, any car accessories specifically for delivery (phone mount, hot bags, etc), and even part of your car insurance if the vehicle is used significantly for business. I save all my receipts in a folder on my phone labeled by month.

One more thing to add that's been really helpful for me - if you're using your personal vehicle for DoorDash, consider opening a separate checking account just for your gig work income and expenses. I deposit all my DoorDash earnings there and pay for gas, car maintenance, and other delivery-related expenses from that same account. It makes tracking everything SO much easier come tax time, and if you ever get audited, having that clear separation between personal and business finances looks really professional to the IRS. Also, since you mentioned you're trying to save for a car - keep in mind that if you end up buying a vehicle that you use primarily for deliveries, you might be able to deduct the depreciation instead of using the standard mileage rate. Something to research once you get to that point!

I messed this up last year and its important to know! If ur 17 year old files there own return make sure they DONT claim themselves as independent!! My son did this and then when I filed claiming him as a dependent, we got a letter from IRS months later saying we had conflicting returns. Was a huge headache to fix!!!!

This is exactly the kind of confusion that trips up so many parents! The good news is that your situation is straightforward - you can definitely still claim your 17-year-old as a dependent even with his part-time job income. The key thing to understand is that for a "qualifying child" (which your son is), there's no income limit at all. The tests are: relationship (he's your son ✓), age (under 19 or under 24 if student ✓), residency (lives with you more than half the year ✓), and support (you provide more than half his support ✓). Since you mentioned you pay for more than half his expenses and he lives with you full-time, you clearly meet the support test. His $5,800-$7,000 income won't disqualify him as your dependent. A few important reminders: - You don't include his income on your return - He should file his own return if taxes were withheld (to get refunds) - Make sure he checks the box saying "someone can claim me as a dependent" on his return - This prevents the conflicting returns issue that some others mentioned You're being smart to double-check everything with his first job - it shows you want to do things right!

Wait, I'm confused about the timing. If the kid lived with you for 15 months, that means they lived with you for all of last year plus a few months of the previous year, right? So you DEFINITELY qualify under the residency test (which requires 6+ months). Did you provide more than half their support too? Food, clothing, shelter, medical, etc?

The 15-month timeline definitely works in your favor for the residency test! Since your niece has been living with you for over a year, you clearly meet the requirement that the child lived with you for more than half the tax year. For a niece to qualify as your dependent, she needs to meet either the "qualifying child" or "qualifying relative" tests. As your niece, she can be a qualifying relative if: (1) she lived with you all year OR is related to you (which she is), (2) her gross income was less than the exemption amount ($4,400 for 2023), (3) you provided more than half her total support, and (4) she's not filing a joint return with someone else. The swing from owing $3k to getting a $1,900 refund makes perfect sense - that's likely the Child Tax Credit and possibly the Additional Child Tax Credit kicking in, which can be worth up to $2,000 per qualifying child. Your processing delay is almost certainly just the IRS being overwhelmed rather than any red flags. Returns with refundable credits (especially involving dependents) routinely take longer to process because they undergo additional verification. The fact that you filed exempt on your W-4 shouldn't impact your dependent claim at all - these are completely separate determinations.