has anyone claimed medical deductions while also claiming the earned income credit? im in a similar situation with income around $26k and about $6k in medical expnses but worried about how this affects my EIC

I went through something similar last year and wanted to share what I learned about the timing aspect. Since you had income from three different sources (employment, unemployment, then employment again), make sure you're including ALL of it in your AGI calculation for the 7.5% threshold. One thing that caught me off guard - if any of your medical expenses were reimbursed by insurance AFTER you paid them, you'll need to subtract those reimbursements from your deductible amount. This includes any HSA or FSA reimbursements you might have received. Also, keep really good records of everything. The IRS tends to scrutinize medical deductions more closely, especially larger amounts like yours. I kept a spreadsheet with dates, providers, amounts, and what each expense was for. Made tax prep much smoother and gave me peace of mind in case of questions later. Given your income level and the amount of medical expenses, you might also want to look into whether you qualify for any healthcare-related tax credits in addition to the deduction question.

They can absolutely change from no withholding to withholding if they want. Its all reported as income anyways. Id be more concerned about whether this should be taxable at all. Some job training isnt imputed income if its required for your current position (not future advancement).

I'd strongly recommend getting this resolved in writing with HR before they make the withholding. The fact that your contract explicitly states "no withholding will be taken from your paycheck" creates a legal issue if they proceed without your agreement to modify the terms. When you meet with HR, ask them to explain: 1) Why they're changing the tax reporting method from 1099-MISC to what sounds like W-2 treatment, 2) Whether your company has a Section 127 educational assistance program that might make this training tax-free, and 3) How they plan to handle the contract discrepancy. If the training was truly mandatory for your current role and doesn't provide portable credentials for other jobs, there's a good chance it shouldn't be taxable imputed income at all. The IRS generally considers employer-provided training non-taxable when it's primarily for the employer's benefit and required for the employee's current duties. Document everything from this meeting and get their responses in writing. If they insist on proceeding with withholding despite the contract language, you may want to consult with an employment attorney about whether they're breaching your agreement.

I own 3 rentals and have dealt with this exact situation. Since the property isn't cash flowing anyway, and it's your future home, I'd definitely go with new appliances. Even though repairs can be fully deducted immediately, new appliances will: 1) Last longer when you move back in 2) Be more attractive to tenants in the meantime 3) Be more energy efficient 4) Still provide tax benefits through depreciation If you were going to sell soon, I'd lean more toward repairs since you wouldn't benefit from the longer life of the appliances.

Has anyone considered the de minimis safe harbor election? If each item costs less than $2,500, you can elect to deduct them immediately rather than depreciating them. You just need to have an accounting policy in place and make the election on your tax return.

Quick question for anyone who's dealt with this recently - I'm using TurboTax Business for my S-Corp and personal returns. Does it automatically handle the NOL carryforward worksheets and calculations between tax years? Or do I need to manually track this somewhere?

I'm dealing with a similar S-Corp NOL situation and wanted to add some practical tips from my experience last year. Make sure you have good documentation of your stock basis before claiming the loss - the IRS can challenge NOL deductions if you can't prove sufficient basis in your S-Corp stock. Keep detailed records of any loans you made to the company, capital contributions, and prior year income/losses. These all affect your basis calculation and determine how much of the NOL you can actually deduct. I had to reconstruct three years of basis calculations when the IRS questioned my NOL deduction. Also, consider whether the Section 199A QBI deduction might interact with your NOL situation in future profitable years. The interplay between NOLs and QBI can be complex, so it's worth understanding now while you're setting up your tracking systems. One more thing - if your photography business picks up significantly next year, be aware of the potential Section 461(l) excess business loss limitation. It caps business losses at $270,000 for single filers, with excess amounts treated as NOLs subject to the 80% limitation in future years.

has anyone else noticed the irs is super quick to cash checks but takes forever to process refunds? lol typical government efficiency at work 🙄

Just wanted to share my experience from last year that might help ease your anxiety. I was in almost the exact same situation - freelance web developer who owed about $4,200 and mailed in a paper return with a check. The IRS cashed my check within a week, but I didn't hear anything else for almost 2 months. I was starting to panic thinking something went wrong, but then I got a simple notice in the mail confirming my return was processed and accepted. No issues, no additional payments needed - just confirmation that everything was handled correctly. The key thing I learned is that payment processing and return processing really are separate departments with different timelines. Your check being cashed is actually a positive sign - it means they received your package and the payment amount matched what you indicated you owed. If there were obvious problems with your return, they typically wouldn't process the payment. For peace of mind, you can check "Where's My Refund" on the IRS website even though you're not getting a refund - it will eventually show your return status once it's fully processed.