Quick tip from someone who's been there - KEEP EVERY RECEIPT for anything remotely school related. My professor required this specific calculator for stats class, and I almost threw away the receipt. That $129 ended up being deductible as a required course material! Same goes for any required subscriptions to online platforms or software.

As someone who just went through this exact situation last year, I can definitely relate to the confusion! One thing that really helped me was organizing all my education-related expenses into categories first - tuition, required materials, technology, etc. Since you mentioned your parents still claim you as a dependent, they'll be the ones who can claim the American Opportunity Credit for your tuition expenses. But don't worry - you can still benefit! They can potentially get up to $2,500 back, which many parents are happy to share with their student. For your DoorDash income, make sure you're tracking your mileage religiously if you haven't been already. The standard mileage deduction is 67 cents per mile for 2024, and that can add up quickly with delivery work. Also keep track of any phone expenses related to the app, car maintenance, etc. One thing I wish someone had told me earlier - if you paid any student loan interest, that's deductible up to $2,500 even if you're claimed as a dependent. It's an "above-the-line" deduction, so it reduces your adjusted gross income. The laptop situation can be tricky, but if you have documentation from your graphic design program showing it was required, you should be good. Keep that syllabus or program requirements handy!

Just to add something that hasn't been mentioned - depending on what type of work you'll be doing, be careful about creating an expectation of payment with a later "waiver" of that payment. That can sometimes be viewed as constructive receipt of income. The cleanest approach is to establish from the very beginning that this is a volunteer position with no compensation. Don't have them process payroll and then "donate" it back, or anything similar. That creates unnecessary complications.

This is such a thoughtful question, and I'm glad you're being so careful about doing everything properly! I went through something similar when I started volunteering as a music director at my church a few years ago. One thing I'd add to the excellent advice already given - make sure you and the church are on the same page about the scope and expectations of your volunteer role. Even though you're not being paid, it's important to have clear boundaries about your responsibilities, time commitment, and decision-making authority. This protects both you and the church. Also, consider whether there might be any employment law implications depending on your state. Some states have specific rules about volunteer work that could affect how the arrangement needs to be structured, especially if you're taking on significant responsibilities that would normally require paid staff. The key points others have mentioned are spot-on: establish it as volunteer work from day one, avoid any arrangement where compensation is processed and then redirected, and get something in writing that clearly states you're volunteering without expectation of payment. Your heart is in the right place wanting to serve your community - just make sure the legal framework supports that intention!

This whole Form 8948 situation perfectly illustrates why tax prep can be so frustrating! I appreciate everyone sharing their experiences and clarifications here. Just to summarize what I'm understanding from this thread: 1. Right now (before e-filing opens): No Form 8948 needed for paper filing since e-filing isn't available yet 2. After January when e-filing opens: Form 8948 required for preparers who file 11+ returns but choose to paper file eligible returns 3. Individual taxpayers filing their own returns: Never need Form 8948 4. Returns that must be paper filed anyway (like certain amended returns): No Form 8948 needed It's helpful to see the different exception codes too. I'm bookmarking this thread for reference once e-filing season actually starts. Thanks to everyone who shared resources and firsthand experiences - this community is invaluable for navigating these constantly changing requirements!

As someone who's been doing tax prep for about 15 years, I can confirm everything that's been said here is spot on. The Form 8948 requirement really only kicks in when you're a preparer who normally must e-file but choose paper filing for returns that could be e-filed. One additional tip I'd add - keep good records of why you're paper filing each return, even if you don't need Form 8948 right now. If the IRS ever questions your filing method later, having documentation of the circumstances (like e-filing being unavailable) can be really helpful. I learned this the hard way during an audit a few years back where I had to reconstruct why certain returns were paper filed. Also, for those mentioning the complexity - you're absolutely right that it keeps getting more complicated! I've found that staying active in communities like this and keeping a good relationship with other preparers is essential for staying on top of all these changing requirements.

Great question about health insurance premiums! You absolutely can document owner's draws specifically for health insurance payments. In fact, I'd recommend being very specific in your documentation - note that it's an owner's draw for "health insurance premiums - self-employed deduction." The key is maintaining that clear separation: the business makes the draw to you as the owner, then you personally pay the health insurance premiums and claim the deduction on your personal return. This approach keeps your business and personal finances properly separated while still allowing you to fund those payments from business profits. Just make sure your LLC shows a net profit for the year, as that's required to claim the self-employed health insurance deduction. If your business has a loss, you can't deduct the premiums that year.

One thing that really helped me avoid commingling issues was creating a simple monthly "owner compensation" process. At the end of each month, I calculate what I need for personal expenses (including estimated tax payments) and take a single owner's draw rather than multiple ad-hoc withdrawals throughout the month. I keep a spreadsheet that breaks down exactly what that monthly draw covers - living expenses, estimated quarterly taxes, health insurance premiums, etc. This way I have clear documentation showing the business isn't directly paying personal expenses, but rather compensating me as the owner, and I'm using that compensation for my personal obligations. This approach has made my bookkeeping much cleaner and gives me confidence that I'm maintaining proper separation between business and personal finances. My accountant loves it because the paper trail is crystal clear if we ever face an audit.

I've been through this exact situation with my LLC running both a landscaping service and freelance graphic design work. One thing that hasn't been mentioned yet is the quarterly estimated tax payments - you'll need to calculate these based on the combined income from all your business activities under the LLC. Also, for your specific businesses (dog grooming, food cart, web development), make sure you research any special licensing requirements for each. The food cart especially might have health department permits and potentially different insurance requirements than your other activities. Some states also have specific regulations about mobile businesses that could affect your LLC structure. The separate bank accounts advice is spot on - even if you use one main account, at minimum get a business credit card dedicated to each activity. It makes expense tracking so much cleaner when tax time comes around.

I'm running into a similar situation with my LLC that handles both my freelance writing business and a small Etsy shop selling handmade jewelry. One thing I learned the hard way is to make sure you're tracking your time spent on each business activity, not just the income and expenses. This becomes super important if you ever want to claim the home office deduction - the IRS wants to see how you're allocating that space between different business uses. I use a simple time tracking app to log hours for each business, which helps me determine what percentage of my home office expenses should go to each Schedule C. Also, @Chloe Zhang, since you mentioned a food cart, definitely check with your local health department early. In my area, food service businesses have to register separately even if they're under an existing LLC, and the inspection requirements are pretty strict. You don't want to get everything set up only to find out you need additional permits or modifications to operate legally. The banking situation really does make a difference for organization. I started with one account and it was a nightmare trying to separate everything come tax time. Now I use separate business checking accounts - yes, there are monthly fees, but the time savings and peace of mind are worth it for me.