Wait I'm confused - I thought home office deduction was part of itemizing? So if I take standard deduction I can't claim my home office for my sole proprietorship? I've been doing this wrong for years then!

This is such a common misconception! I went through the exact same confusion when I started my consulting business. The key thing to remember is that Schedule C business expenses and the standard deduction operate on completely different "levels" of your tax return. Think of it like this: Schedule C calculates your net business profit (gross income minus business expenses), and that net profit number flows to Line 3 of your Form 1040. Then, much later in the process, you decide whether to take the standard deduction or itemize your personal deductions. So yes, absolutely organize those receipts and track your business expenses! Every legitimate business expense reduces both your income tax AND your self-employment tax (which is 15.3% on net earnings). Even if your business has slowed down, those deductions are still valuable. For your accountant, provide everything you mentioned: all 1099s/W2s, organized business expenses by category, and your investment statements. Since you have a Solo 401k, make sure to include any contributions you made there too - those are also deductible regardless of whether you itemize or take the standard deduction.

Filed my Oklahoma return on January 31st and finally got my refund this morning! Took about 3.5 weeks total. I was checking the status obsessively and it stayed on "processing" until Tuesday when it switched to "approved" - then the direct deposit hit today. For anyone still waiting, I know it's stressful but it seems like they're working through the backlog. The enhanced fraud prevention measures @Nick Kravitz mentioned are probably why it's taking longer, but at least they're being thorough. Hang in there everyone!

Filed mine on January 28th and got my refund last week - took about 4 weeks total. I know the wait is frustrating but wanted to share some hope! My status stayed on "processing" for weeks with no updates, then suddenly switched to "approved" and the deposit came 2 days later. For anyone still waiting, it really does seem like they're just working through a massive backlog. I actually called twice and got two different wait time estimates (3-4 weeks vs 6-8 weeks) so even the reps don't seem to have consistent info. Just keep checking that status page even though it's not super helpful - once it changes you're almost there!

Has anyone used FreeTaxUSA for calculating potential tax brackets? I'm in a similar situation to the OP and trying to figure out if I should do some tax loss harvesting before year end to offset gains.

Great question about the 2025 tax brackets! Just to add some practical context to what others have shared - with your $110k income, you'll definitely be in the 24% marginal bracket for federal taxes. But here's what I'd focus on: 1. **Stock options timing**: If you're planning to exercise stock options, consider spreading it across tax years if possible. A large exercise could push you well into the 24% bracket or even higher. 2. **Max out tax-advantaged accounts**: You can contribute up to $23,500 to your 401k in 2025 (if you're under 50). Every dollar you put in reduces your taxable income dollar-for-dollar. 3. **Don't forget FICA**: Remember that Social Security and Medicare taxes (7.65%) apply to your wages regardless of income tax brackets. The strategies to stay in lower brackets really depend on how close you are to the $100,526 cutoff after your 401k contributions and other deductions. If you're right on the edge, maximizing your HSA contributions (if available) and considering a traditional IRA contribution could help. What state are you in? That'll make a big difference in your total tax picture.

I just wanted to add my experience since I was in the exact same boat last year. After reading through all these helpful responses, I can confirm that line 26 is definitely the right place for your extension payment. What really helped me was looking at the actual Form 1040 instructions (Publication 1040) rather than just the form itself. The instructions for line 26 explicitly mention including "any estimated tax payments you made with Form 4868" which is exactly what your $2,800 payment was. One thing I learned is that even though the line says "estimated tax payments," the IRS considers your extension payment to be a type of estimated payment since you're estimating what you owe and paying it in advance of filing your actual return. It all gets sorted out when they process your return and calculate your final tax liability. Don't stress too much about it - the IRS computer systems are pretty good at matching payments to returns using your SSN, even if there are small discrepancies. Just make sure you enter the exact amount you paid ($2,800 in your case) and you should be all set!

I went through this exact same confusion two years ago and it drove me crazy! You're absolutely right that the form used to be clearer about extension payments. Line 26 is definitely the correct place for your $2,800 extension payment. What helped me understand it was realizing that from the IRS's perspective, both quarterly estimated payments and extension payments serve the same purpose - they're advance payments toward your tax liability. That's why they combined them on one line. Make sure you have your Form 4868 confirmation handy when you file, just in case there are any questions later. The IRS should automatically match your payment to your return using your SSN, but having that backup documentation gives you peace of mind. One tip: if you're using tax software, some programs will actually ask you specifically if you made an extension payment and then automatically add it to line 26 for you. But if you're doing it by hand, just enter the $2,800 on line 26 and you're good to go!

Make sure you're also tracking other expenses besides just the locksmith! I'm a dogsitter too and I deduct: - Special leashes/harnesses I buy for work - Poop bags - Treats for clients' dogs - Apps like Rover or Time To Pet subscriptions - Pet first aid certification - Portion of car insurance (business use) - Hand sanitizer and cleaning supplies

Based on what everyone's shared here, it sounds like your locksmith expense should definitely be deductible! I'm also self-employed (freelance photographer) and had a similar situation last year when I locked my keys in my car during a wedding shoot and had to pay for roadside assistance. My tax preparer confirmed it was a legitimate business expense since it happened while I was actively working and was necessary to complete my job. The key is that you were performing your pet sitting duties when it happened, not just hanging out at the client's house for personal reasons. Keep that receipt and maybe write a brief note on it explaining the circumstances (date, which client, that you were actively working). The IRS wants to see that expenses are "ordinary and necessary" for your business, and unfortunately getting locked out is pretty ordinary when you're working at different locations all the time! Also wanted to say thanks to everyone who mentioned the other deduction ideas - I hadn't thought about tracking the business portion of my phone bill before. This thread has been super helpful for all of us self-employed folks!