Has anyone actually received a W-2 that shows meal stipends separately? Last year I had a job with a $75 daily meal allowance and I can't even tell if it was included in my taxable wages or not. It's driving me crazy trying to figure out if I reported everything correctly.

The $200 daily amount is quite high for a meal stipend and will likely be partially or fully taxable. For context, the current federal per diem meal rates range from about $59-79 per day for most locations (with some high-cost areas going higher). Any amount above the applicable federal rate for your location would typically be considered taxable income. Since you mentioned this is loaded onto a card rather than being reimbursement for actual expenses, it sounds like it might be structured as a non-accountable plan, which would make the entire amount taxable. However, the specific tax treatment really depends on: 1) Whether your employer has structured this as an accountable or non-accountable plan 2) Your work location and the applicable federal per diem rates 3) Whether you're working away from your tax home I'd strongly recommend getting clarification from your employer about how they're reporting this on your W-2. With $200/day for 6 months, you're looking at around $36,000 in stipends, so getting the tax treatment right is really important. Don't wait until tax time to figure this out!

I work at a tax prep place part time during tax season, and I can tell you we see this confusion with 1099-K forms all the time. For the 2024 tax year, the threshold is definitely $5,000 for reporting purposes. But here's the important thing - receiving a 1099-K doesn't automatically mean that money is taxable income. It's just an information reporting form. When clients come in with 1099-Ks from personal transfers, we document the nature of the transfers and exclude them from taxable income.

Based on what I've seen with similar situations, you're likely fine as long as you can document that these are personal transfers and not payments for goods or services. The key is keeping good records showing the money flow - that your roommate receives money from family, sends it to you, and you withdraw it for him. Since you mentioned around $6,800 total, you're above the $5,000 threshold where CashApp might issue a 1099-K. But even if you receive one, it doesn't mean you owe taxes on that money. You would just need to explain on your tax return that these were non-taxable personal transfers. I'd suggest keeping screenshots or records of the transfers showing they're from your roommate (not business transactions), and maybe even a simple written agreement between you two documenting this arrangement. That way if any questions come up, you have clear documentation that you're just facilitating access to his own money to help him avoid fees. The IRS understands that people use these apps for personal transfers, so as long as you can show the money wasn't actually income to you, you should be okay.

The solo 401k contribution calculation errors would be my last straw. That's a pretty straightforward calculation with clear limits, and getting it wrong multiple years shows either incompetence or carelessness.

These are absolutely red flags, not normal CPA behavior. I've been through tax season with several different CPAs over the years, and what you're describing shows a fundamental lack of attention to your account. The estimated tax payment issue alone should have you looking elsewhere. When you explicitly notify your CPA about a significant revenue increase, recalculating quarterly payments should be automatic - that's Tax Planning 101. The fact that he acknowledged your email but didn't act on it is inexcusable, especially when you're facing an $82k surprise bill. The repeated solo 401k errors are particularly telling because these calculations follow straightforward IRS guidelines. Making the same mistake twice suggests he's not learning from his errors or possibly not dedicating enough time to your file. You're not being unreasonable - you deserve a CPA who is proactive, organized, and responsive to your communications. Start interviewing new candidates now, and make sure to ask them specifically how they handle mid-year revenue changes and client communications. A good CPA should have systems in place to prevent exactly what you're experiencing.

Quick practical tip - when you contact the client, ask them to also provide you with a letter acknowledging the error for your records. I keep a file of these correction letters just in case the IRS ever questions why a reported 1099 didn't show up on our corporate return. Better to have documentation ready than to explain it during an audit!

Thanks everyone for the helpful advice! I just wanted to add that timing matters here too. If your client has already filed the 1099-NEC with the IRS (the deadline was January 31st), they'll need to submit a corrected form showing $0 rather than just voiding it in their system. Also, don't panic if they can't or won't correct it immediately. As long as you're properly reporting your corporate income on Form 1120, the IRS computer matching system will eventually sort it out. The key is having documentation that you attempted to get it corrected - keep copies of your emails or letters to the client requesting the correction. One more tip: if this client regularly pays your corporation significant amounts, it might be worth having a conversation about updating their vendor files to properly classify you as a corporation to prevent this from happening again next year.

Don't forget about state taxes! While the federal government generally doesn't tax foreign inheritances, some states do have inheritance taxes. What state do you live in? That could make a difference too.

I went through something similar when my grandmother in France passed away and left me some money. One thing I learned that might help you - make sure you keep detailed records of EVERYTHING from the moment you're notified about the inheritance. I'd recommend creating a file with: the original will (and English translation), all correspondence with the Italian lawyer, bank transfer documents showing the source of funds, any Italian tax documents, and records of the exchange rate on the day you receive the money. The IRS loves documentation, and having this paper trail ready will save you headaches if they ever have questions. Also, don't rush to transfer the money immediately. Take time to understand all the requirements first - both the Form 3520 reporting and any potential FBAR obligations if the money sits in Italy for a while. I made the mistake of moving too quickly and had to reconstruct some of the documentation later. The €120,000 is a significant amount, so even though you won't owe income tax on it, getting professional help for at least the first year's filing is probably worth the cost to make sure everything is done correctly.