Based on everyone's discussion here, it sounds like your Lexus LX600 definitely qualifies for Section 179 treatment due to its 7,230 lb GVWR, but you'll be subject to the luxury SUV cap of around $30,400 for 2025. One thing I haven't seen mentioned yet is that you should also consider your total business income when planning this deduction. Section 179 can't exceed your business's taxable income for the year - so if your business only made $20,000 in profit, you can only deduct up to $20,000 even though the SUV limit is higher. Any unused portion can be carried forward to future years though. Also, since you mentioned your accountant wasn't 100% sure about the specifics, you might want to consider getting a second opinion or using one of the services others have mentioned here. Vehicle deductions can be complex, especially for luxury SUVs, and getting it wrong can be expensive if you're audited. The peace of mind is worth it when you're dealing with a high-value vehicle like the LX600.

I just want to add one more important consideration that hasn't been fully addressed - the timing of when you actually start using the LX600 for business matters a lot for tax planning. Since we're getting close to year-end, make sure you have a clear business purpose and documentation for when you first put it into service. Also, don't forget about state tax implications. Some states have different rules for vehicle deductions or may not conform to federal Section 179 treatment. I learned this the hard way when I took a large federal deduction but my state (California) had different limitations that created a big state tax bill I wasn't expecting. Finally, consider whether taking the full $30,400 deduction this year makes sense for your overall tax situation, or if spreading it out might be more beneficial. Sometimes it's worth running the numbers both ways, especially if you're already in a high tax bracket or expecting income changes in future years.

Pro tip: Check your transcripts early morning on friday, thats when they usually do the big updates

Based on my experience, it's usually 2-4 business days after your transcript updates for the account balance to hit zero. Once that happens, direct deposit typically takes another 1-3 business days. So you're probably looking at about a week total from transcript update to money in your account. The waiting game is rough but you're almost there!

Has anyone had experience with "recharacterizing" HSA contributions rather than withdrawing them? My accountant mentioned this might be an option if the excess wasn't too much over the limit, but I'm not clear on how it works.

I went through this exact situation last year and want to share what worked for me. The key is understanding that you don't need to calculate losses down to the penny - the IRS allows "reasonable methods" for attributing gains/losses to excess contributions. Here's what I did: I calculated what percentage my excess contribution was of my total HSA balance on the date I made it, then applied that same percentage to the overall account loss. So if my excess was 8% of my total balance and my account dropped $200, I attributed $16 of loss to the excess contribution. My HSA provider (Fidelity) accepted this calculation method without any issues. I submitted their excess contribution removal form with my math clearly documented, and they processed it within a week. Don't overthink this - the important thing is removing the excess before your tax filing deadline to avoid the 6% penalty. Your method of just withdrawing enough to get under the limit would work too, but make sure to request it as a "return of excess contributions" so it's properly documented for tax purposes. One tip: call your HSA provider directly instead of relying on their online help. The phone representatives usually have more experience with these situations and can walk you through their specific process.

Filed 2/22, got state refund in a week, federal still says "processing" on WMR. Just checked transcripts after reading this post and I also have an 846 for 3/29! Never got any updates or notifications, it just appeared. The IRS website is a joke.

Congratulations on finally getting your 846 code! I'm currently on week 7 of waiting myself - filed 2/28 and accepted same day but transcripts still showing N/A. Your post gives me hope that movement can happen suddenly even after weeks of nothing. Quick question - when you say your transcripts were "completely empty" until today, do you mean they showed N/A for return transcript or that there was literally nothing there? I'm trying to figure out if my situation is normal delay or if something's actually wrong. The WMR tool has been useless - just the generic "still processing" message for over a month now. Really hoping I see some movement soon like you did! April 1st deposit date sounds amazing right about now 🤞

I went through this exact same thing in March! My transcript showed N/A for months, then suddenly appeared with all zeros across every line. I was so confused and stressed thinking something was wrong. But just like everyone else is saying, it really is just a normal phase in the processing. Mine took exactly 12 days from zeros to full amounts appearing, then got my refund 4 days after that. The waiting is absolutely brutal but you're definitely moving through the system now. Check Thursday mornings around 6am - that's when I always saw updates appear. You're so close to the finish line!

This is such a relief to read! I've been in the exact same boat - transcript showed N/A forever, then switched to all zeros about 4 days ago. I was starting to panic thinking it meant my return got rejected or something was seriously wrong. Seeing all these similar experiences and timelines really helps calm my nerves. The 570 code explanation makes perfect sense since I also claimed EITC. Going to stop obsessively checking every day and just focus on Thursday mornings like everyone suggests. Thanks for posting this question - sometimes it's so reassuring to know you're not alone in the tax refund purgatory! 😅