Has anyone here actually made decent money as a campus ambassador? I filled out W9s for two different clothing brands last year and barely made $300 total. Wondering if it's even worth bothering with the tax paperwork.

Just went through this same process last month! As someone who was equally confused, here's what I learned: 1. Leave the "Business name" section blank - you're working as yourself, not a registered business 2. Check "Individual/sole proprietorship" for tax classification 3. Use your SSN (required) 4. Sign and date One thing I wish someone had told me earlier - start keeping track of any expenses related to your ambassador work right away! Things like phone bills (portion used for work), gas if you drive to events, supplies, etc. These can be deducted when you file taxes next year on Schedule C. Also, don't stress too much about quarterly payments unless you're making serious money (like over $1000 in taxes owed). Most ambassador programs don't pay enough to worry about that. The companies will send you a 1099-NEC if you make over $600 with them in a year, but you still need to report the income even if it's less than that. Good luck with the program - it's actually pretty fun once you get past the paperwork!

This happens literally every year with retirement accounts. Brokerages NEVER have the 5498 forms ready by tax time because they have until May 31 to issue them. It's annoying but normal. The good news is that for Roth IRAs you don't need to report the contributions on your tax return anyway!

This is exactly why I always tell people to keep a separate folder for retirement account forms! Form 5498 is one of those "late arrivals" that shows up after you've already filed, but as others have mentioned, it's purely informational for Roth IRAs since the contributions don't affect your current year taxes. One thing I'd add - make sure to keep that 5498 in a safe place because it documents your contribution basis. This becomes important years down the road if you ever need to withdraw contributions early (you can withdraw Roth contributions penalty-free, but you need records to prove how much you contributed vs. how much is earnings). I learned this the hard way when I needed documentation for an early withdrawal and had to track down old forms from multiple years! The timing issue with these forms is frustrating but totally normal. Custodians have until May 31st to send them out, so they rarely make it in time for early filers.

Has anyone considered whether your mom could be classified as an independent contractor vs an employee? If she's only playing at events organized by one company, and they direct when and where she performs, she might actually qualify as an employee. In that case, the wedding coordinator should be paying half of her FICA taxes. The IRS has a 20-factor test to determine proper classification. Might be worth looking into if this is ongoing work. The coordinator can't just give someone a 1099 to avoid payroll taxes if the relationship is really employer-employee.

Guys I'm in a similar situation but with writing gigs. If I made around $5k last year from freelance work, do I HAVE to file Schedule SE? Can't I just pay the income tax and skip the self-employment part? The extra 15% is killing me financially.

This is a really tough situation, but you're absolutely right to be concerned. Your boss is essentially asking you to be complicit in tax evasion, and his behavior - especially discouraging you from seeking professional tax advice - is a huge red flag. Here's what you need to know: You are legally required to report ALL income to the IRS, regardless of how it's paid to you. The fact that your employer pays you partially in cash doesn't make that portion non-taxable. Keep detailed records of every payment you receive (dates, amounts, cash vs. check) - this will be crucial for your tax filing. I'd strongly recommend getting a second job lined up before taking any action. While there are legal protections for whistleblowers, small businesses can sometimes find ways to retaliate, and you don't want to be left without income while dealing with this mess. When you file your taxes, report your complete income even if your W-2 doesn't reflect the cash payments. You can use Form 4852 if needed to report the correct amounts. The IRS cares most about individuals paying their proper taxes - if you're honest and thorough in your reporting, you'll be protecting yourself even if your employer isn't handling things properly. Stay strong and trust your instincts - this situation definitely feels sketchy because it IS sketchy.

I'm a tax preparer and I see situations like this more often than you'd think. Your instincts are absolutely correct - what your boss is doing is tax evasion, and his attempts to prevent you from seeking professional advice are major warning signs. Here's the bottom line: ALL income must be reported to the IRS, period. Cash payments don't have some magical exemption just because they're harder to track. Your boss claiming the cash "isn't reported to the IRS" while also saying it's "handled through business deductions" makes no sense - he's clearly making things up as he goes. The good news is you can absolutely protect yourself. Keep meticulous records of every single payment (I recommend a simple spreadsheet with date, amount, and payment type). When tax time comes, report your TOTAL income regardless of what appears on your W-2. If your W-2 is incorrect, use Form 4852 to report the actual amounts. Yes, you'll owe more taxes since no withholding was taken from the cash portion, but that's infinitely better than facing penalties for underreporting income. The IRS has payment plan options if you can't pay the full amount immediately. I'd also strongly suggest starting your job search now. Employers who operate this way rarely change, and you deserve to work somewhere that handles payroll legally and transparently. You're young and clearly have good judgment - don't let this situation derail your financial future.

anyone know if this is the same for federal returns?

Had the exact same thing happen with my MD refund last week! Called and they said it was approved but the online portal didn't update for another 2 days. Got my direct deposit exactly when they originally estimated though, so don't worry too much. The backend systems move faster than what we can see on our end.