Has anyone used their home gym for both in-person training clients AND filming content for online coaching? I'm wondering if I can write off the entire room as a home office if it's used for both purposes?

Great question! I'm in a similar situation - planning to launch my personal training business early next year but want to get my equipment sorted now. From what I've researched, the key is showing "active preparation" for your business launch. One thing I'd add to the excellent advice already given - consider getting your business license and EIN now if you haven't already. Even if you're not actively earning revenue yet, having these official documents helps establish your business intent timeline for the IRS. Also, I'd recommend creating a detailed business plan that includes your equipment needs and how each piece will be used for client training. This documentation becomes really valuable if you ever get questioned about the business purpose of your purchases. Keep in mind that if you're buying higher-value equipment (like a $3,000 home gym setup), you might want to spread some purchases into 2025 to maximize your deduction benefits across tax years. Good luck with the launch!

I filed on February 5th and got my refund deposited on February 18th - so 13 days total! Much faster than I expected. I have a relatively straightforward return (W-2, some student loan interest deduction, and child tax credit), but I was still pleasantly surprised by the speed. One tip that might help while you're waiting - if you have the IRS app or access to your online account, you can also check the status there in addition to the "Where's My Refund?" tool. Sometimes one updates before the other. For your car repairs, if the refund doesn't come through in time, some auto shops offer payment plans or might work with you on timing if you explain the situation. Hope your refund comes through quickly!

Just wanted to add another data point to help ease your anxiety! I filed my return on January 28th and received my refund via direct deposit on February 10th - exactly 13 days, which was amazing compared to last year when I waited almost 5 weeks. My situation was a bit more complex too - I had W-2 income, some 1099-MISC freelance work, and claimed the American Opportunity Tax Credit for college expenses. I was worried the education credit might slow things down since those sometimes get extra scrutiny, but it went through without any issues. The key things that seemed to help: e-filing, direct deposit, and making sure all my documents matched exactly what was reported to the IRS. I also made sure to file during a weekday rather than weekend, though I'm not sure if that actually matters. For your car repairs situation, I totally get the stress of waiting! If it helps, most people in this thread seem to be getting their refunds well within that 21-day window this year. The IRS really does seem to have their act together better than in previous years. Keep checking that "Where's My Refund?" tool - once it shows "approved" you should see the money within a few days after that.

Went through this last year and let me tell you, it's like the IRS version of dating - just when you think they're ghosting you, they text back! 😂 But seriously, watch out for what happened to me: status changed to processing, I got excited, then BAM - got hit with the dreaded 60-day review letter two weeks later. Apparently my employer submitted my W-2 with a typo in my SSN. The moral of this tragic tax tale: even when it goes back to processing, keep checking your transcript for codes 570/971 which might indicate additional reviews. Not trying to be a downer, just saying don't celebrate until you see that 846 refund issued code!

I'm going through this exact situation right now! Filed early February, got stuck in ID verification hell for about 10 days, and just switched back to processing yesterday. Reading through everyone's experiences here is actually really reassuring - sounds like this status change is generally a good sign that things are moving forward. For those asking about transcripts showing N/A - mine is still showing that too, but from what I'm reading here it sounds like that's normal during this transition period. I'm going to try to be patient and check again in a few days. @Melina Haruko - thanks for starting this thread! The PCS timing stress is real. We're military too and have had our fair share of verification delays over the years. Fingers crossed we both get some movement soon!

Small tip that helped me understand this better: think of bank fees like you think of any other service fee you pay - like a Netflix subscription or ATM charge. You don't report those on your taxes and the same goes for savings account withdrawal fees. The only "fees" that matter for taxes are those that are actually penalties for early withdrawals from tax-advantaged accounts or time deposits (CDs), and those will always be on your 1099-INT or other tax forms.

Thanks everyone for all the helpful responses! This makes so much more sense now. I was definitely overthinking it and trying to account for every little fee. Just to make sure I understand correctly - so the only thing I need to worry about from my 1099-INT is what's actually printed on the form itself, and regular banking fees like withdrawal charges, overdrafts, monthly maintenance fees, etc. are just personal expenses that don't affect my taxes at all? I feel so much better about filing now. First time doing taxes is pretty overwhelming but you've all been super helpful!

Another tip - make sure you know which of your grandma's investment accounts have automatic dividend reinvestment. This affects the cost basis on the 1099-B because reinvested dividends increase the basis. My dad's accounts had this feature and we were showing more gains than we should have been because the reinvested dividends weren't being properly tracked in the basis. Had to go through years of statements to correct it!

This is such a helpful thread! I'm dealing with something similar for my elderly aunt. One thing I learned the hard way - make sure to check if any of the 1099-INT forms show tax-exempt interest income in Box 8. My aunt had municipal bond funds across several accounts and we almost reported that income as taxable when it shouldn't have been. Also, when you're organizing everything for the accountant, I found it helpful to create a simple spreadsheet listing each 1099 form, which institution it's from, and the key amounts. It makes the appointment go much smoother when you can quickly reference which form has which information. The accountant will definitely appreciate having everything organized beforehand, especially with multiple investment accounts. Good luck with your appointment next week!